Japanese Thin Plate Makers Increase Export Price

Japanese integrated steel makers started the price negotiation of thin plate export for the shipping in January-March 2008 from this week. Maker source said they presented to increase the export price by US$ 50 per tonne for cold rolled steel sheet for thin plate to China and South East Asia and by US$ 30 for thin plate compared to the shipping in October-December 2007 due to increasing material price in fiscal 2008 at the ended of March 2009. They also seem to present to increase by US4 100 per tonne to distant plate such as Middle East. The demand for thin plate in the world keeps good for can. Especially, the demand for a tuna can or pineapple can is firm in Asia. The supply and demand for thin plate is continuing to be tight.European steel makers, such as Arcelor Mittal or Corus, already launched out the price hike by about US$ 70 per tonne due to increased material price. Bao Steel, Chinese biggest steel maker, announced to increase the selling price by about US$ 48 per tonne in January-March 2008 to domestic users. The material price is expected to largely rise. Japanese steel makers consider raising the export price for the shipping in April-June 2008. However, overseas users are bitterly resisting against Japanese makers’ price hike when thin plate export price is already high level at US$ 1,000-1,500 per tonne.