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| HOME >> Topics List >> April, 2009 >> 21 (Tue) |
| Rising Overseas Inquiries For Slab Imports From Japan |
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Japan's integrated steelmakers have rising overseas inquiries for slab imports from the nation. There are cases of inquiries without bids, presumably to check price and demand trends of slabs. But the Japanese steelmakers expect slab inquiries on the increase to have an influence on HR coil prices before long. In this connection, overseas buyers are thought to have reacted to a possibility that the world's slab transaction prices have bottomed out, according to market sources. At present, Brazilian slab prices are estimated at a level of US$320/ton C&F for delivery in Asia. Meanwhile, HR coil inquiries are on the increase in Asia, where various steel rerolers show moves to resume their production. Also, it is understood that export prices of slabs from the CIS and Brazil have declined to their virtual limits until now. The Japanese steelmakers, though, have no idea of meeting the existing slab inquiries as negotiable export deals. They see no pressing need to negotiate slab exports. Besides, they claim a high probability that HR coil prices will advance from the current level when the Japanese steelmakers execute slab exports under contract. Both slabs and HR coils have much more elasticity in production even if they face increased purchase inquiries. Therefore, a considerable price increase is difficult to assume for slabs and HR coils. But the environment looks set to form toward preventing a further fall in prices of slabs and HR coils. In fact, it is likely that some Japanese integrated steelmakers will settle new deals of HR coil exports to South Korea's steel rerollers within this week at a price level of US$400-410/ton FOB. |
| last modified : Fri 24 Apr, 2009 [10:15] |
