JFE Steel to Hike Shipbuilding Plate Export Price

JFE Steel decided to improve the extra charge of export price for shipbuilding plate to South Korea and other buyers. The firm tries to improve the profitability by covering higher cost for alloys and materials. The firm studies the detail for size and grade extra charge and offers the new extra charge at negotiation in early 2008. South Korean shipbuilders increase the consumption of high tensile steel and thicker plate when the container carrier and other ship get larger to cover growing ocean transport demand. However, shipbuilding plate export price for high grade products with insufficient extra charge is relative lower when the base price increased. JFE Steel also studies for major hike of base export price for shipbuilding plate for South Korea for April-September shipment when iron ore and other raw materials cost could increase.