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Ansteel's Major Price Increases At Home For March Shipments
China's integrated steelmaker Anshan Iron & Steel Group Corp (Ansteel) has announced major price increases of various steel products except heavy plates for its domestic shipments in March 2006, it was learned in Tokyo Monday. Heavy plate prices go unchanged this time in Ansteel's domestic shipments.

The announcement is thought to have stemmed from Ansteel's judgment that domestic transaction prices of steel products have bottomed out and bounced up until now. Until recently, the company was leading price-cutting moves among domestic steelmakers in China.

Ansteel's new prices before value-added tax are Yn3,160/ton (US$333) for HR coils, up Yn300 (US$37) from a month ago; Yn4,490/ton (US$467) for CR sheets, up Yn500 (US$62); and Yn4,320/ton (US$455) for GI sheets. The new price for non-oriented electrical sheets is described as a level of US$490/ton, up US$40 from the earlier provision.

It is uncertain, though, whether domestic market prices in China have moved up to a level that compares with Ansteel's announced price increases that seem to be creating speculative demand again, according to market sources.

As a result, Japan's integrated steelmakers are reacting with vigilant eyes on how things go in China.
last modified : Fri 24 Feb, 2006 [11:37]
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