Japanese steel trading firms and shipping companies agreed to keep ocean freight from Japan to East Asian countries unchanged for second half of the fiscal ending in March 2011 as the first half, according to industry sources.
The shipping companies aimed to raise the freight in the second half for 2 half periods in a row while the steel trading firms requested price cut, claiming the cost could undermine export competitiveness of Japanese integrated steel makers when South Korean steel makers are increasing the capacity and yen exchange rate remains high. They finally reached the meeting point understanding each others’ position when shipping companies are expanding the fleet and charter fee fluctuates worldwide.| M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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