Higher Japan Sheet Steel Import Price

Japanese import sheet steel price increased by 7,000-10,000 yen per tonne in a month. Anshan Iron and Steel increased the offer to C&F US$ 1,020 per tonne for hot coil for July shipment while Hyundai Steel offers 126,000 yen per tonne and Union Steel offers 128,000 yen for cold rolled flat steel. The price is expected to increase by more than 10,000 yen for coming months when China Steel increased the price by around 15,000 yen for Taiwan market for July-September. Such offer for Japanese import reflects international market with more than US$ 1,000 per tonne for hot coil, which is higher than Japanese makers’ selling price. Japanese buyers try to secure the materials through import due to tight domestic supply. Japanese import increased by 19.5% for pickling steel and by 1.9% for cold rolled flat steel in January-April from same period of 2007 while the import of hot, cold and coated sheet decreased by 5.2% in the period. Domestic makers are cautious for potential higher import.