Hyundai Steel to Develop Japan Steel Market

Hyundai Steel tries to develop Japanese steel users as stable buyers. The firm increases the hot rolled coil export from current monthly 10,000-20,000 tonnes. The firm also increases the export of shipbuilding plate and H-beam to Japanese buyers when Japanese steel price is higher than international level under higher yen rate. The firm tries to secure stable buyers including manufacturers by improving the quality and delivery as Japanese steel makers.

The vice president Yoon-Soon Song said South Korean steel makers have to secure stable offshore buyers when South Korean supply gets oversupply condition due to South Korean steel makers’ capacity expansion in recent years and continuous import flow. He emphasized the export to Japan is profitable due to the higher price and lower freight than export to Southeast Asia and other countries.

Mr. Song said Japanese buyers find no problem on Hyundai Steel’s products while the steel maker just started integrated steel operation last year. He is confident on higher export to Japanese market through the competitiveness in quality and price.

He said the firm already started plate shipment to Japanese shipbuilder. South The firm tries to develop Japanese plate market when South Korean plate production is more than the domestic demand in 2013 or the firm’s plate expansion complete timing while South Korean shipbuilding plate demand is still firm.

The firm converted the H-beam making facility last year to meet new Japanese Industrial Standards while the facility was to make old JIS equivalent Korean standard. The firm tries to increase the export to Japan when South Korean construction demand is peaking.