Lower Asia Plate Export Price

Asian plate steel export price decreases recently. The export price decreased to around FOB US$ 650 per tonne from China. Some of the export price decreased to less than US$ 600. Japanese steel makers are concluding the export price negotiation with South Korean shipbuilders at just less than FOB US$ 700 for April-June.

Japanese steel makers offered higher quarterly price for South Korean shipbuilders. But the price decreases slightly from January-March level when the shipbuilders won CFR US$ 680 per tonne from Chinese makers and 20,000 won per tonne price down from POSCO.

Shipbuilding in Japan, China and South Korea represents more than 90% of the world shipbuilding in 2011. Chinese and South Korean steel makers expand plate making capacity to serve the demand while new shipbuilding order is very thin under plunged ocean freight with oversupply of vessels.

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