Asian Steel Sheet Market Waffles

Asian steel sheet market is waffling. In China, the largest steel sheet market in the region, the government is trying to hold down inflation while Chinese steel output and export are increasing. Some steel makers hike the steel sheet selling price while some lower the price despite of high material cost. In South Korea, the major destination of Japanese hot coil and steel plate export, steel sheet inventory remains at the users and dealers which was procured from China during April-June. Meanwhile, Korean steel demand seasonally slows down for July-September.

In the circumstances, Nippon Steel aims to improve steel export prices. Hard price negotiations continue with South Korean customers for hot rolled sheet and plate export of July-September shipment. Nippon Steel keeps the strong stance to improve the price level when Nippon Steel schedules regular maintenance of plate mills in Kimitsu and Nagoya iron works as well as hot rolling mills in Oita and Kimitsu iron works. The firm estimates the shipment of hot coil and plate would decrease by one-month volume during July-September compared with April-June.