JFE Steel will announce the export price hike of 13% chrome steel seamless pipe, the major item of high grade oil well pipe, by US$ 300 per tonne effective for April contracts. The firm decided the price hike to improve the product’s profitability. The market price of 13% Cr steel seamless pipe has lowered since oil well pipe demand significantly shrank in 2009 after the global economy deterioration.
Oil well pipe demand is recently recovering in USA, Europe, Middle East and Asia. Several steel pipe makers of USA have currently announced the price hike. JFE Steel supposed the market condition is more favorable than ever. The firm even eyes the additional price hike if the market circumstance allows.| M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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