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| Japanese Export Sales Of Non-GO Elec Sheets At $600 FOB For China |
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Japanese integrated steelmakers have settled their export deals of non-GO (grain oriented) electrical sheets with a price increase of US$100/ton to a level of US$600/ton FOB for August shipments to China. Behind a successful price increase of US$100/ton this time are the repercussions of domestic price corrections of non-GO electrical sheets by China's major integrated steelmakers, according to market sources. Baosteel Co has increased its domestic price of non-GO electrical sheets by Yn450/ton (US$66) for July shipments, while Wuhan Iron & Steel Group Corp has done likewise by Yn650/ton (US$96) for August shipments. For their part, the Japanese steelmakers are contemplating seeking a more price increase of US$50/ton in negotiations on their exports of non-GO electrical sheets to China for September shipments. The negotiations are scheduled to start next week. In China, domestic transaction prices of non-GO electrical sheets declined from the equivalent of around US$900/ton to that of around US$500/ton in the April-June quarter. At the time, local steelmakers fell into panic selling with a major price reduction each in slack deals of non-GO electrical sheets amid stagnant demand. |
| last modified : Tue 14 Jul, 2009 [10:03] |
