TEX reported that Japan’s integrated steelmakers find themselves in active export deals of high grade heavy plates for energy related applications such as jackets, oil or gas storage tanks,

and oil refinery tanks at a time when national oil companies and gas
authorities in the world’s emerging economies are poised to resume
their energy development plans. Major Western oil companies, though,
still remain cautious about outlays in new energy development projects.

Inquiries for high-grade heavy plates from Japan have hit twice the
level of last year so far, with a required quantity of 5,000 to 6,000
tonnes each. The inquirers are Japan’s and South Korea’s engineering
companies aiming to win contracts for construction of new energy
related facilities in the emerging economies. Designers in charge set
Japan and Europe as the sources of high grade heavy plates, a condition
that precludes offers of heavy plates from China.

Accordingly, it is considered possible for the Japanese steelmakers to
maintain relatively stable prices in negotiations on their exports of
high grade heavy plates to the emerging economies. As to commodity
grade heavy plates, various steelmakers in South Korea, China and India
are likely to seek separate export deals, according to market sources.

At present, pipe supply deals are under negotiation concerning new gas
or oil pipeline projects in Australia, the Middle East, Vietnam, and
China. In this connection, negotiations are perking up, too, on
assignments to take up construction of new storage tanks. For delivery
in China, a Japanese integrated steelmaker recently negotiated an
export deal of heavy plates for tank material.

Meanwhile, Japan’s heavy plate exports continue favorable, mainly for
supplies to South Korea’s shipbuilding companies. Japanese heavy plate
exports are forecast to become stable in quantity once they include
high-grade products for energy related use. Besides, Japanese export
prices of heavy plates are unlikely to fall steeply in the future
because the Japanese steelmakers see no need so far for an entry into
the field of commodity grade heavy plates.

Source: TEX Report

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