Japanese integrated steelmakers are thought to have settled their deals of HR coil exports to Southeast Asia at around US$480/ton C&F for July-August shipments, up nearly $50 from the earlier settlement, according to market sources. |
There are forecasts that the Japanese steelmakers will secure a certain price increase to a level beyond US$480/ton C&F in their HR coil exports to Southeast Asia for September shipments. But chances are the Japanese steelmakers will take a long time to win prices beyond US$500/ton C&F in the HR coil exports they negotiate with local customers.
Meanwhile, the Japanese steelmakers have yet to conclude any new contract of HR coil exports to South Korea for July shipments onward. On their part, the Japanese steelmakers are aiming at a higher price level than the norm of shipments to Southeast Asia.