Nippon Steel Stops Hot Coil Spot Export

Nippon Steel doesn’t accept hot rolled coil export spot order for October-December. The firm focuses on the shipment for automobile and downstream operations including cold rolling and galvanizing steel. The firm has no additional supply ability, which is apparently part of due to some production trouble for the facilities. The firm tries to reduce the hot coil export volume to South Korean rerollers compared with April-September shipment in ongoing negotiation with the users while South Korean rerollers seek more volume. Nippon Steel apparently reduces the export volume of hot coil for container makers in Middle- and South America and China. The firm cannot accept spot order of hot coil for construction materials mainly from Middle- and Near East. Asian hot coil supply is tight due to strong demand for manufacturers. The supply could get tighter after September when POSCO of South Korea plans major maintenance outage for the hot rolling operation. Chinese market also recovers from temporally adjustment.