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| HOME >> Topics List >> May, 2009 >> 01 (Fri) |
| Sino-Korean Ship Plate Deal At $450 FOB |
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China's integrated steelmaker Shoudu Iron & Steel Co is thought to have settled its ship plate export deal at US$450/ton FOB with South Korea's major shipbuilding company Hyundai Heavy Industries Co for April-June shipments, it was learned in Tokyo Thursday. So far, there is no information that other Chinese integrated steelmakers have concluded their ship plate export negotiations on April-June shipments to South Korea. For the main reason, South Korea's various shipbuilding companies as a whole have no option but to hold back on new ship plate imports from China due to large stocks of purchased Chinese materials, according to market sources. Besides, most of the Korean shipbuilding companies have no need to hasten new ship plate purchases because of leeway in shipways. Meanwhile, Japan's integrated steelmakers face a tough environment for their deals of ship plate exports to South Korea's major shipbuilding companies. The Japanese steelmakers admit the continued absence of assorted ship plate orders from the Korean customers under the existing supply contracts. In this connection, many of the Japanese steelmakers believed earlier that the Korean customers would request a price reduction of ship plates in the existing supply contracts. At present, though, the belief is on the wane. The Japanese steelmakers find that the continued absence of assorted orders from the Korean customers relates to their excessive stocks of ship plates and leeway in shipways, not the Japanese ship plate prices under contract. Also, it is considered fairly difficult for the Korean customers to place assorted ship plate orders with the Japanese steelmakers even if the prices are held down. Accordingly, opinion is gaining ground among the Japanese steelmakers that no Korean request will be made for a price reduction of ship plates. |
| last modified : Mon 11 May, 2009 [10:07] |
