JFE Steel concluded the price hike negotiation with South Korean rerollers including Hyundai Hysco to increase the hot coil export price by US$ 10-15 per tonne for January-March shipment from October-December. The price increases apparently to FOB US$ 550-560. The export volume is in line with October-December.JFE Steel sought US$ 20-30 per tonne hike when Asian hot coil supply is tight and Chinese market price increases. South Korean rerollers resisted the wide hike when they couldn’t pass higher cost price on the selling price. JFE Steel insisted certain hike when they should increase the price for April-June to cover higher cost for raw materials. They agreed for certain hike.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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