| The TEX Report Topics < Steel > | |
| HOME >> Topics List >> January, 2006 >> 19 (Thu) |
| SE Asian Bids At $350 FOB Level For HR Coil Imports From Japan |
|
Most of the bids stand at a level of US$350/ton FOB or less than US$400/ton C&F in the inquiries made by various steel rerollers in Southeast Asia to import HR coils from integrated steelmakers in Japan for February-March shipments after the lunar New Year holidays. Having a major impact are CR sheet exports to Southeast Asia by South Korea's integrated steelmaker Posco whose export negotiations are reported at around US$440/ton C&F for Southeast Asia. As a result, various steel rerollers in Southeast Asia need to secure imported HR coils at around US$350/ton FOB so that they can compete with Posco in the CR sheet deals they conduct. But the Japanese steelmakers are having a tough time finding ways to reject what they consider low bids because longtime customers are among local steel rerollers. The existing bids from Southeast Asia compare with what China's steelmakers currently charge for their HR coil exports. The Japanese steelmakers have no idea of exporting HR coils to Southeast Asia at less than US$400/ton FOB. Accordingly, it is likely that they will respond negatively to all the current bids from local steel rerollers at the final stage, market observers believe. |
| last modified : Tue 24 Jan, 2006 [10:41] |
