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Settlement To Stand Over To Next Week In Japano-Korean Ship Plate Talks
There are indications that Japanese integrated steelmakers will carry a settlement over to next week in their negotiations on exports of ship plates (heavy plates for shipbuilding) to South Korea's major shipbuilding companies for shipments in October 2006-March 2007.

A virtual stalemate of the negotiations remains intact this week because the two sides are still divided in price ideas. On offer from the Japanese steelmakers is a price increase of US$100/ton, while the Korean shipbuilding companies want a price reduction of US$100/ton. The negotiations could fall into a prolonged process unless some progress is made in next week, given national holidays in South Korea in early October, according to market sources.

Under the present circumstances, there is a strong possibility that the Japanese steelmakers will have to give up ship plate exports to the Korean shipbuilding companies for October shipments.

The Korean shipbuilding companies have yet to make second-round bids. But they are hinting that they are ready to respond accordingly if the Japanese steelmakers agree to a flat price settlement of US$580/ton FOB.
last modified : Wed 27 Sep, 2006 [11:39]
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