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|Japanese HR Coil Exports To SE Asia At $520-530 FOB For Q4 Shipments|
Japan's integrated steelmakers have begun to settle deals at US$520-530/ton FOB in their HR coil export negotiations on shipments to Southeast Asia in the October-December quarter of 2006, according to market sources. |
The Japanese steelmakers see an improved environment for the HR coil exports they negotiate to Southeast Asia. A fall of HR coil transaction prices is letting up there in the repercussions of a rebounding domestic market for HR coils in China.
Japanese export prices of HR coils for Southeast Asia once underwent a decline of around US$30/ton. At the time, domestic HR coil prices were running downhill in China. But until now, Japanese HR coil prices for Southeast Asia have moved sideways.
Meanwhile, the Japanese steelmakers have yet to enter advanced stages of their negotiations on HR coil exports to South Korea's various steel rerollers for shipments in the October-December quarter.
There are forecasts, though, that the negotiations will make rapid progress once the Korean steel rerollers make new bids toward a price level of US$530/ton FOB. At present, the Korean users' bids are described as a price level of US$500/ton FOB. The negotiations may come to the most important stage this week or next week even though a difference of price ideas exists between the two sides, market sources suggest.
|last modified : Mon 02 Oct, 2006 [11:11]|