JFE Steel offered US$ 400 per tonne higher export price to US oil companies and distributors for carbon steel and 13% chrome seamless steel tube for July-September from April-June. The firm tries to pass higher cost for iron ore, coal and other materials. The firm prepares another US$ 250-300 hike for October-December. The firm got US$ 200-300 per tonne higher price for oil well tube for April-June from January-March. US oil well tube market increases due to higher offer by US makers after July under tight supply. US oil well tube market was overstock from end of 2006 to 2007. However, the demand keeps growing since then when oil companies expand the resource development under surging oil price.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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