Japan Major Steels to Raise NO Electrical Steel Export by US$ 50 to China

Japanese integrated steel makers plan to increase non-oriented electrical steel export price to China by around US$ 50 for November shipment from around FOB US$ 950 for October shipment. The Japanese makers increase the price when Chinese integrated steels including Baoshan Iron & Steel announced the domestic selling price hike for 2 straight months through October. Japanese integrated steels increased the export price to China by several tens dollars for the shipment in October.

NO electrical steel demand is firm due to steady home electronics sales in Asia. The Japanese integrated steels’ export price to China was around FOB US$ 1,000 per tonne in July. However, the price declined to around US$ 850 for export to spot buyers when steel market price in China started declining from May due to the oversupply.

On the other hand, the supply and demand are getting balanced due to the decrease in old steel making facilities and power restriction by Chinese government.