Japan Steel Sheet Import Price to Rebound

Japanese steel sheet import price entered a rising phase. China Steel, Taiwanese largest steel maker, informed to raise the selling price to Japanese users by 5,000 yen per tonne for July-August shipment. Japanese large dealer source said Anshan Iron & Steel, Chinese major steel maker, offered to raise the selling price by US$ 20-50 to US$ 500-530 per tonne for August shipment compared with July.

Steel sheet market price is rebounding in Asia thanks to the progress of inventory adjustment. Asian steel makers are raising the export price to Japan.

South Korean steel makers haven’t showed the sales stance by the end of last week. South Korean steels eye the market reaction after Chinese government raised its tax rebate rate for hot coil to 9% on 1 July. Japanese large dealer forecasts POSCO, South Korean largest steel maker, would raise the selling price by around 5,000 yen per tonne for July-September shipment.