Japan Major Steels to Offer Higher Sheet Export Price

Japanese major steel makers starts sheet steel export price talk in the week for April-June. The makers already realized FOB US$ 750-800 for hot rolled coil for March shipment while some of the makers offer US$ 900 for spot transaction for March shipment. They eye US$ 1,000 level in and after April. The makers now prepare for higher offer for domestic sheet steel price and now the price hike range is considered at 15,000-20,000 yen per tonne level.

Steel demand increases worldwide lifting spot market price of raw materials. Integrated steel makers should pay much more for iron ore and coking coal in and after April. Japanese integrated steel makers try to pass the higher cost on the selling price at home and abroad. The cost push price pressure would lift the steel price level in Japan and export market.