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| NSC's HR Coil Export Talks Finish For Q4 Shipments To ROK |
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Nippon Steel Corp (NSC) has finished all its HR coil export negotiations for shipments to South Korea in the October-December quarter. As a result, price increases of US$30-50/ton apply in negotiated export deals with Korean steel rerollers (CR sheet manufacturers) such as Hyundai Hysco. In the negotiations this time, NSC first indicated inability to provide sufficient HR coils for reasons such as blast furnace repairs at its works, which aroused bad feeling among the Korean steel rerollers. Then, signs of a decline arose both in South Korea's steel exports and domestic steel demand. As a result, the two sides agreed to less supply volumes than the quarter before as a compromise at the final stage. Japanese integrated steelmakers have held back on their deals of HR coil exports to part of Southeast Asia for October-December shipments. A case in point is Vietnam where local buyers are noncommittal to new exports of HR coils. But the Japanese steelmakers have negotiated flat or increased prices in their HR coil exports to China and Latin America for Q4 shipments. In China, meanwhile, the domestic HR coil market is way down. Chinese steelmakers are reacting with moves to promote HR coil exports in Asia at reduced prices, mainly for commodity-grade HR coils in thick sizes of around 3mm. Accordingly, there are no marked cases so far of a price reduction in Chinese exports of high-grade HR coils featuring thin sizes. |
| last modified : Fri 03 Oct, 2008 [14:39] |
