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ROK Steel Rerollers Up GI Sheet Export Prices By $40
South Korea's three major steel rerollers such as Hyundai Hysco have offered a price increase of US$40/ton to US$600-620/ton FOB in their deals of GI sheet exports to the rest of Asia for shipments in March 2006, according to information made available in Tokyo. Also, the Korean steel rerollers are reported to have told various customers in Asian destinations that another price increase will take effect in their GI sheet exports for April shipments.

The Korean steel rerollers are thought to have reacted with the price increase this time to active moves for GI sheet imports among customers in Asian destinations like China. Among other things, Chinese users are described as eager to negotiate anew for GI sheet imports from South Korea and elsewhere. Until now, they have made increased inquiries for imports of GI sheets from Japan as well.

For their part, Japan's integrated steelmakers believe that an environment is forming for the Korean steel rerollers to take HR coils from Japan at a price level of US$500/ton FOB if they are to settle GI sheet export deals at around US$600/ton FOB.

As a result, the Japanese steelmakers are considering resuming their HR coil export negotiations around the end of February for March-April shipments to South Korea while watching domestic price practices of China's top integrated steelmaker Baoshan Iron & Steel Co (Baosteel). Baosteel is expected to announce its domestic sales prices of various steel products this week for shipments in the April-June quarter of this year.
last modified : Thu 23 Feb, 2006 [11:05]
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