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|Prices of General Use Plates below $500 CFR Disappear in Asia|
According to a source, Korea's POSCO seems to have returned its offer prices to the level of more than $500 CFR for September shipment. Krakatau Posco of Indonesia is seen to move in tandem with it, and only Ukrainian offer price of $490 CFR being the level of $400 CFR for August shipment is left. Ukrainian prices are said to be raised by $10 for the Middle East, and if so, such prices will also reach the level of $500 CFR in Asia sooner or later.|
In early July, POSCO is said to have offered its prices at the level of $490 CFR in the Asian region. Customers and mills of each country had taken it that as its periodic maintenance of plate facilities had ended, the company had set out a stance to focus on quantity rather than prices.
However, such information is spreading that POSCO made currently offers at the level of $520 CFR for Singapore. The company is to have returned its prices to the previous level. In Singapore, plural Chinese mills are reported to have proceeded with negotiations at $520-530 CFR. As their prices are the same as those of POSCO, their conclusion of contracts is seen to be difficult.
Even if Chinese mills cannot conclude contracts, when the domestic market prices of plates rise, they immediately reflect it to export prices. Accodingly, if POSCO does not raise its prices again, its price level might dip below those of Chinese mills.
In any case, plate prices below $500 CFR will disappear soon in the Asian region. A ground swell of a rise in plate prices is about to appear after so long.
|last modified : Wed 02 Aug, 2017 [09:41]|