Shaped Steel Market Price Rebounds in Asia

Asian shaped steel market price hit bottom and is starting to rebound when Japanese and South Korean steel makers are raising sales price. Hyundai Steel, which has large muscle, increased export price of H-beam by US$ 20-30 per tonne. Japanese steel makers are increasing export price by about US$ 30.

H-beam export price is CIF 830 per tonne for the base size to South East Asia. Each steel maker aims to contract export price at about US$ 860 per tonne.

In South Korea, construction of large building projects is scheduled such as Lotte World or large LED plant. Consequently, South Korean steel makers seem to accept order constant amount. Because ferrous scrap export price is increasing from U.S. to Turkey, Japanese and South Korean steel makers are raising H-beam price. However, Japanese steel makers are forced in severe competition with overseas steel makers and can’t get profit enough when yen rate is high if export price rises based dollar.