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| Japanese Export Talks Finish On Q3 Chinese Deals For Non-GO Elec Sheets |
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Japanese integrated steelmakers have finished negotiations on their exports of non-GO (grain oriented) electrical sheets to China for July-September shipments in the wake of negotiated deals with local customers for September shipments. It is understood that a price increase of US$30/ton is settled for September shipments. As a result, the new prices for September shipments are thought to have hit a level of US$700/ton C&F for low-grade products, according to market sources. At the initial stages of the negotiations this time, the Japanese steelmakers expected China's major integrated steelmakers to execute a major domestic price increase each for non-GO electrical sheets. In fact, Baosteel Co Ltd has raised its sales price of the low grade by Yn450/ton (US$66) for July shipments and by Yn500/ton (US$74) for August shipments, a cumulative price increase of Yn950/ton (US$140) for two months. Also, Wuhan Iron & Steel Group Corp has increased what it charges by Yn650/ton (US$96) for August shipments. Mindful of the Chinese steelmakers' domestic price increases, the Japanese steelmakers have opted out of their deals for July shipments and have succeeded in winning a price increase of US$100/ton for August shipments. As a result, the new prices for August shipments stand at a level of US$600/ton FOB. Besides, the Japanese steelmakers have nailed down another price increase of US$30/ton for September shipments. On their part, the Japanese steelmakers are on track to seek a more price increase in their exports of non-GO electrical sheets to China for October-December shipments. |
| last modified : Wed 29 Jul, 2009 [10:40] |
