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|Prices of Sheet Piles for Asia Also Maintained at $650 CFR for Feb Shipment|
Negotiations on steel sheet piles for Asia by the Japanese blast furnace mills start soon for February shipment. As it is in a better environment for negotiations than usual, the blast furnace mills are seeing to be able to maintain the current price level of $650 CFR.|
Usually in Asia, as it falls on Chinese New Year (February 15, 2018 this time), construction works cease in February mainly in China. For this reason, it is usual that demand for sheet piles declines and prices fall.
However, a source is observing that there is a strong possibility to be exceptional this time. One of its factors is that prices reached the level of $640 CFR in the Southeast Asian region for January shipment. Other factors are that demand for sheet piles is increasing in Vietnam and in China, due to brisk demand for steel products, a contributory factor for prices of sheets piles to decline cannot be found. Last week, prices of hot-rolled steel coils rose by more than $10 in dollar equivalent in China. Sesonally, prices would have been seen to fall due to selling to raise cash and so on but rose in reversal. Market prices of sheet piles are predicted to move in tandem with it, and if so, there is no fear of a fall in prices.
The Japanese mills had offered markups of $10 for January shipment but had anticipated levelling off of prices due to forecasting low demand after the turn of the year. However, although there were cases of levelling off of prices, there were many contract cases of a rise in prices by $5. Sheet pile prices of electric furnace mills fell at one point due to a fall in prices of ferrous scrap but are the level of more than $620 CFR at present. It is because prices of scrap are largely rising.
Under the circumstances, there are less factors that prices of sheet piles will decline for February shipment when it usually falls on the off-demand season in the Chinese New Year holiday. For this reason, the Japanese mills deem to maintain the current price level of $650 CFR.
As for steel H-beams, there is information that Korea's Hyundai Steel is offering its prices of 40kg/mm2 steel at $600 CFR for Malaysia and so on for February shipment. As the company seems to have proceeded with negotiations at $580 CFR before a rise in scrap prices, it is to have raised its prices by $20. The company is said to have already concluded contracts at increased prices by $10 for Mexico and Singapore. Prices of $600 are expected to become common in the Asian region.
|last modified : Mon 18 Dec, 2017 [12:04]|