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| Spot HR Coil Prices At $500-650 FOB In Asia |
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Spot export prices of HR coils in Asia range from a low level of US$500/ton FOB to a high level of US$650/ton FOB, while there are no spot export prices of around US$700/ton FOB so far, according to information made available in Tokyo. In China, the domestic HR coil market is trending upward, which promises to have an impact on export markets for HR coils in Asia from February onward after the lunar New Year holidays there. Until then, it is unlikely that the export markets will recover to a level of US$700/ton FOB, market sources believe. Meanwhile, Japanese integrated steelmakers are conducting regular deals of HR coil exports to Asian destinations with no benchmark price for what they negotiate because new export sales of HR coils are virtually on hold for shipments to South Korea. Negotiate prices of Japanese HR coil exports to South Korea usually serve as a benchmark of price terms for the rest of Asian destinations. At present, the Japanese steelmakers have HR coil exports under negotiation at a price level of US$800-900/ton for January-March shipments to Japanese-affiliated users in Asian destinations. The negotiations are based on the existing long-term supply contracts covering up to March this year. The users relate to local manufacturing industries such as autos and consumer electronics. |
| last modified : Mon 19 Jan, 2009 [11:37] |
