Bids have moved up by nearly US$30/ton to a level of US$460/ton FOB in CR sheet inquiries from Hong Kong, China and Taiwan for supplies from without, according to information made available in Tokyo. For the main factor, CR sheet demand is said to have arisen in various local areas, leading to rising CR sheet inquiries. |
The current inquiries indicate a major increase in CR sheet requirements for a silver-ornament substitute of utensils and a building material. In the background, there is a surge of utensil exports from Hong Kong and China to the Middle East and Africa.
South Korea's Posco once offered its CR sheet exports at US$430/ton FOB for the rest of Asia. Since the beginning of May, though, Posco is reported to have begun offering prices of US$450/ton FOB or beyond. Some Japanese integrated steelmakers have settled Asian deals at US$430-450/ton FOB for their CR sheet exports of late. At present, more Japanese steelmakers look set to negotiate their CR sheet exports at a price level of US$480/ton FOB.