Asian hot coil market price has increased by US$ 20-30 to around CFR US$ 740 per tonne in the latest month, according to Japanese large dealer source. Chinese, Taiwanese and Japanese steel makers recently launched price hike in order to improve their profitability. The market price maintained weak since 2Q 2011. Steel users are relatively positive against the hike offers, mainly in Southeast Asia entering the demand season.
On the other hand, European steel makers seem increasing hot coil export to West Asia, India or Middle and Near East due to uncertainty of European economy or downtrend of Euro exchange rate. Asian steel market is not stable. Japanese integrated steel makers are trying to penetrate price hike. JFE Steel offered hot coil export price hike by US$ 50 for September-October shipment. Other Japanese steel makers are also raising the offer prices when yen exchange rate stays at historically high level.| M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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