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| $500 FOB Price Recovery In Japanese HR Coil Exports To Taiwan |
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Japanese integrated steelmakers have recovered a price level of US$500/ton FOB in their HR coil exports to Taiwan in the wake of negotiated HR coil supplies to local steel rerollers for July-August shipments. As a result, it is likely that the Japanese steelmakers will struggle to achieve a higher price level of US$550/ton FOB in their deals of HR coil exports to Taiwan for September shipments, according to market sources. The Japanese steelmakers closed most of the deals at US$450/ton FOB in their HR coil exports to Taiwan for May-June shipments. For July-August shipments, though, the Japanese steelmakers have succeeded in winning a price increase of US$50 to US$500/ton FOB in negotiated deals with local customers. Behind the successful Japanese price increase this time are the repercussions of a domestic price increase for HR coils by Taiwan's integrated steelmaker China Steel Corp (CSC), market observers believe. CSC has priced up HR coils by NT$1,727 (US$53) to NT16,822/ton (US$516) for July-August shipments. For July shipments, Taiwan's steel reroller Chung Hung Steel Co, too, has raised its domestic sales price of HR coils by the equivalent of US$73 to what translates into US$537/ton. |
| last modified : Thu 23 Jul, 2009 [10:31] |
