Higher costs, reduced competition likely to support Southeast Asian plate prices, Japanese mill says

Steel plate prices in Southeast Asia are likely to continue on an upward trajectory due to higher shipping costs and reduced price competition among steelmakers, a source at a leading Japanese mill told Fastmarkets.

“Demand from the shipbuilding industry remains far from ideal, but steel producers cannot lower prices any further due to squeezed profit margins,” the source said.

Stricter emission control regulations imposed by the International Maritime Organization (IMO), known as the IMO 2020, have resulted in increased freight rates...

Published

Lee Ken Kiat

January 29, 2020

09:34 GMT

Singapore