JFE Steel to Ship 15,000 tonnes of Hot Coil for Corinth Pipeworks

JFE Steel agreed with Greek steel pipe maker, Corinth Pipeworks to ship 15,000 tonnes of hot coil for spiral pipe for January-March shipment. JFE Steel will ship the material from Kurashiki area of West Japan works in February. The firm apparently increases the price to reflect higher freight cost. The firm will increase the supply volume from current 60,000-80,000 tonnes per year.JFE Steel is in technical partnership with Corinth Pipeworks. JFE Steel failed to agree with Corinth Pipeworks for hot coil supply October-December shipment when Corinth Pipeworks didn’t accept higher price for freight cost. Corinth Pipeworks accepted around 70% higher freight charge for January-March compared with July-September. JFE Steel could increase the export price for April-June depending on cost for raw materials and freight. Spiral pipe demand increases especially in USA due to higher demand for pipeline and energy applications. Spiral pipe makers in USA and Europe try to secure the material hot band stably to meet growing demand.