Lowering Asia Sheet Steel Price

Asian sheet steel market price entered into down phase when steel makers in Russia, China and Brazil try to divert the sales to Middle East, India and Asia from Europe under slower European economy. Their offer decreases under the competition. The situation would be severe for Japanese integrated steel makers under historical high yen rate.

Chinese raw steel output is estimated to renew record daily output in May as April. Chinese steel export keeps high level and the makers reduced the offer for cold rolled flat steel and hot-dip galvanizing steel for June and July shipment. Some of the offer is more than US$ 50 per tonne lower than May shipment. South Korean makers also increase the export after their repair.

Russian and Ukrainian steel makers increase the presence in the export market recently. The makers shift from Europe to Middle East and Southeast Asia when southern Europe economy slows down.

Japanese major steel makers still try to secure profitable export price. However, the makers cannot secure reasonable priced order when the buyers seek lower price. The makers’ export could decrease under the sever export condition.