Strong Steel Market price in Asia

Major steel makers in Asia increase the price. China Steel Corporation in Taiwan informed the customers in Japan that the firm increases the export price by 3,000-5,000 yen per tonne for January-March. Baoshan Iron & Steel announced the domestic selling price increase from February and Wuhan Iron and Steel seemed to follow the price hike. Steel makers would increase the price more when raw material cost is expected to rise from metallurgical coal supply shortage from torrential rain in Australia.

CSC increases the export price to Japan by 3,000 yen per tonne for hot dip galvanized coil, by 4,000 yen for hot rolled and pickling coil, by 5,000 yen for cold rolled coil and plate for January-March or February-April shipment. The export volume is as same as October-December. However, the firm cuts the volume of pickling and galvanized coil by 15-20% due to firm demand in Taiwan.

Baoshan Iron & Steel announced this week the firm increases the domestic selling price by 100 yuan or around 1,250 yen per tonne from February and Wuhan Iron and Steel apparently increases the price by 200 yuan. Flat rolled steel market price in China has been increasing since early December from higher material cost price and price hike by steel makers. Japanese flat rolled steel and long products market price also turned upward when steel makers increased the price.