Japanese integrated steel makers and South Korean re-rollers are concluding price negotiations of steel sheet for October-December shipment. Some steel makers will raise the export price by about US$ 100 to FOB US$ 600 per tonne from July-September shipment. Chinese steel market is expanding and pulling up the sheet market in Asia. The demand is increasing from automobiles and electric appliances in South Korea. Korean re-rollers plan to increase their output and sheet procurement.However, Chinese sheet market price is decreasing at present when sheet inventory increased due to high output. Chinese steel makers are enhancing the export. South Korean re-rollers have disapproved the price hike by Japanese steel makers. On the other hand, Japanese steel makers’ order receipts are increasing for October-December, when Japanese automobile output is increasing and sheet users are increasing the orders from China, Brazil and South East Asia. Steel maker will recover crude steel output to around 80% level of the peak. Steel sheet supply is expected to tighten when some steel makers’ accidents in blast furnaces and scheduled refinement of hot rolling mills. Japanese steel makers have aimed to raise the sheet export price to US$ 600 for October shipment. Japanese steel makers and South Korean re-rollers are seeking agreeable price points.
Japan Steel Scrap Composite Prices (Sangyo Press)11/15/2018
|32700YEN (-)||37900YEN (-)|
|285.17US$ (0.67)||330.51US$ (0.77)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)