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Korea's Hyundai Increased Its Export Prices Of H-beams By $30 For Apr. Shipment
Hyundai Steel of Korea has started its export negotiations on steel H-bemas for April shipment from early this week, and seems to have offered price up of $30 from those for March shipment. Although its prices are different depending on an area, those seem to be the level of $800 in FOB, and those for Southeast Asia and Middle East are $830 and $850 CFR respectively. All of such H-beams are inch sizes. Depending on the subsequent market situation and cost rise, it is foreseen to increase its prices additionally.

Hyundai is apt to place value on profitability rather than seeking quantity. In case of April shipment as well, it seems to proceed with negotiations giving priority more on prices than quantity. With this, export quantity to be contracted is likely flexible.

Not only in Southeast Asia but also in the Middle East area, such projects to use H-beams begin to move. In the middle of February, cheap offers disappeared, and the cases to get swayed by cheap offers of the overseas mills have gone. Moreover, the mills of Japan and Taiwan also are showing an attitude to raise their prices for April shipment. Among them, Hyundai is to be ahead of undertaking negotiations at the markups of $30. As in Europe, such environment comes out that Euro is appreciating, and expectation of emerging from the financial crisis is being raised, customers are said to strengthen their buying attitude, and therefore, the trend of price rise is possibly strengthened. As such, Hyundai seems to raise its prices additionally depending on the situation.

Meantime, the company seems to have raised prices of steel bars for April shipment other than H-beams. In Korea, prices during January through March between the steel mills and the construction industries were settled in stages at 816 thousand won ($730) in January, 836 thousand won ($748) in February, and 841 thousand won ($752) in March. In this backdrop, it is said that domestic demand is expanding. Therefore, export quantity of bars for April shipment will be limited, and the company is reported to select higher bidding prices placing value on prices in this item as well. Those prices seem to be $720 CFR for Singapore.
last modified : Tue 13 Mar, 2012 [11:50]
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