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|Trading Resumes In Asian CR Sheet Markets|
Trading has resumed in the CR sheet markets of China and other Asian nations after the lunar New Year holidays. Various users are making bids to take CR sheets for two to three months of requirements to rebuild their stocks of bought-in CR sheets, a break with earlier purchases for immediate needs alone. As a result, it follows that CR sheet market conditions in Asia have bottomed out and have begun to rebound, according to market sources. |
Existing bids from customers in Southeast Asia and China mark upward revisions by US$20-30/ton of what they made before the lunar New Year holidays for imports of CR sheets from Japan. As a result, the current bids stand at around US$450/ton C&F. But the price level is still less attractive for Japanese integrated steelmakers to start supply negotiations in earnest at once.
With changing moves of the customers, steelmakers show changes in their deals of CR sheet exports. In South Korea, integrated steelmaker Posco and various steel rerollers have begun to offer price increases of US$20-30/ton to US$450/ton C&F or more. Their earlier offers were described as a level of US$420-440/ton C&F.
As things now stand, there are expectations that Asian market conditions for CR sheets will perk up again because both the customers and the steelmakers are poised for price increases in the deals they settle.
In China, meanwhile, several CR sheet manufacturers stopped operations around October last year as they found it difficult to meet a steep fall in CR sheet transaction prices. Information is circulating, though, that they are contemplating resumed operations of their works that may contribute overpoduction of CR sheets in China, resulting in a continued slack of CR sheet supply-demand conditions at home.
|last modified : Thu 16 Feb, 2006 [10:37]|