CSC to Raise Export Price for Japan for Aug-Oct Shipment

China Steel Corporation (CSC) decided to raise the export prices for all the steel products bound for Japan for August-October shipment. The firm will raise the export price by 2,500 yen per tonne for steel plate, by 3,500-4,000 yen per tonne for hot-rolled steel coil, by 3,500 yen per tonne for pickled steel coil, by 3,500 yen for cold-rolled steel coil and by 6,000-8,000 yen for hot-dipped galvanized steel sheet. CSC also decided to reduce the export volume by 10% for hot-rolled steel coil and pickled steel coil and by 15% for cold-rolled steel coil for August-October shipment from May-July.CSC raises the export price bound for Japan when the overseas steels prices are increasing in China and Southeast Asia under the supply tightness. In addition CSC already raised its selling price for domestic users in Taiwan from April-June shipment and sought to improve the export price.CSC averagely exports over 200,000 tonnes of steel products for Japan in every quarter period. The export volume is likely to become to less than 200,000 tonnes for August-October shipment. Some of hot-rolled coils would be shipped in November when CSC holds much back logs for rolling.