Support for steel plate prices in Asia was likely to continue in 2020 because of the environmental restrictions imposed by the Chinese government on steelmaking during the coming winter, a source at a leading Japanese steel mill told Fastmarkets this week.
"Reduced supply in winter, when Chinese producers cut back their output, means that prices are likely to move up from now on," the source said.Chinese plate suppliers refused to give discounts to overseas customers after the Golden Week holiday in early October to mark the 70th anniversary of the founding of the People's Republic of China. This was because they had better prices and stable...