2020 is going to be a stronger year for steel as the demand will be solid due to Chinese production remaining lower and several projects of property constructions in the pipeline, said Paul Bartholomew, senior managing editor, S&P Global Platts.

“China’s domestic market is pretty strong, property construction market still up 4-5 percent and so demand from China is going to be strong which will help support other regional markets,” said Bartholomew, in an interview with CNBC-TV18.

"The house is hoping for a stronger 2020 as global markets have been subdued in recent months," he added.

On US Steel and ArcelorMittal increasing flat-rolled steel prices, Bartholomew said, "The hike in prices could be because they are trying to keep the steel prices popped-up."

He added that compared to other metal prices, which are subdued, steel has been doing well for the last couple of weeks.