Nippon Steel agreed with South Korean major reroller to increase the hot rolled coil export price by US$ 100 to FOB US$ 550-560 per tonne for July-September from April-June. The firm got near offer level of US$ 570 when Chinese export offer reaches more than US$ 600 including freight and Chinese suppliers decrease additional capacity for export. With the higher Japanese price, POSCO could increase the domestic selling price. Nippon Steel ships the hot coil almost only for August and September due to the long lasting negotiation. The price is FOB US$ 550 per tonne for August and US$ 560 for September compared with US$ 460 for June shipment. Nippon Steel increased the hot coil price to FOB US$ 600 per tonne for users in remote areas while the firm tries to increase the cold coil price to US$ 700. The firm cannot get spot order for galvanizing steel at the offer of US$ 850 but the firm rejects order at the lower price. The firm will export the steel products with price first policy when the firm reduces export volume by more than 10% for July-September from April-June.
Japan Steel Scrap Composite Prices (Sangyo Press)03/30/2023
|52800YEN (-)||54000YEN (-)|
|395.36US$ (-3.79)||404.34US$ (-3.88)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)
- JMB Tieup company
- The Korea Metal Journal
- Steel on the net