Tokyo Steel Exports Steel Plate for the First Time

Japanese biggest electric furnace maker, Tokyo Steel Manufacturing gained the first export order for steel plate for May-June shipping. The contracted price is FOB US$ 730 per tonne and the contracted volume is 5,000 tonnes. Export market price for steel plate keeps C&F US$ 650-660 per tonne for spot contract. The firm’s contracted price exceeded the market average widely. Tokyo Steel will start negotiation for June-July shipping export this week and aims to increase the contracted price by US$ 20 per tonne compared with May-June shipping. Tokyo Steel started steel plate production at Kyusyu works in January 2007 and started the sales from contracts in February. Produced sizes are 9-32 millimeters thick, 2,100 millimeters and 2,438 millimeters width and 6,096 millimeters length. Produced steel grade is SS400, SM490A and SN490B. The firm will add other sizes to maximum 60 millimeters thick, 2,500 millimeters width and 12,192 millimeters length, and other steel grades. The firm will apply shipbuilding steels to Lloyd’s Register of Shipping and Nippon Kaiji Kyokai standards. The firm will build up steel plate sales when the steel plate supply is tight in the whole world. The firm contracted export bargain for hot-rolled steel coil at FOB US$ 620 per tonne and for H-beam at FOB US$ 640 for May-June shipping. Mr. Ohori, managing director of Tokyo Steel, said export price is expected to rise because Chinese tax rebate reduction didn’t make impact to the market.