Japan Steel Sheet Export Price is Decreasing

Japanese steel sheet import price is dropping. Anshan Iron & Steel, Chinese major steel maker decreased the export price of hot-rolled steel coil by C&F US$ 590 per tonne in January shipping in last week and Wuhan Iron & Steel decreased its export price by C&F US$ 480 in this week. POSCO, South Korean biggest steel maker and CSC, Taiwanese biggest steel maker decreased it export price by 10,000 yen to Japan.

Japanese market price is higher than other overseas market due to dropped international price, higher yen rate and cheaper dollar rate. Chinese steel supply and demand became loose. Chinese steel market price decreased to around US$ 400 per tonne. Chinese steel makers increased the export due to the abolishment of export tax by Chinese government. South Korean steel makers increasing the export due to dropped won rate.

Japanese market reduced rapidly for automobile, construction machinery. Japanese steel sheet inventory, hot-rolled, cold-rolled and surface treated steel sheet was over 4.4 million tonnes at the ended of September. Dealers and coil centers are progressing the inventory adjustment, are reducing the purchase volume of steels sheet. Overseas steel makers are offering the export price lower than Japanese integrated steel makers and Tokyo Steel Manufacturing, Japanese biggest electric furnace maker. Tokyo Steel Manufacturing decreased the selling price of steel sheet in December order for 2 consecutive months.