Oil price stability, Indonesia demand to boost steel plate prices in Q4, Japanese mill says

Demand from the Asian energy sector and domestic buyers in Indonesia will continue to support steel plate prices in the final quarter of this year, a source close to a leading Japanese steelmaker told Fastmarkets this week.

“Crude oil prices have been hovering about $50-60 per barrel and this has led to more interest from the energy sector to increase steel procurement,” the source said. This was more urgent with the startup of a new energy project in Malaysia, as well as demand from wind-farm projects in Taiwan. “The fabrication capacity in East Asia for Taiwanese wind-farm projects will...

Published

Paul Lim

September 10, 2019

17:35 GMT

Singapore