Ansteel to Increase Hot Coil Export Price by US$ 55 to Japan

Anshan Iron and Steel informed Japanese users to increase hot rolled coil selling price by US$ 55 to C&F US$ 765 per tonne for rolling in February from January, according to Japanese industry source. The firm increases cold coil price by US$ 70 to US$ 830. The firm seems to reflect higher raw material cost when the raw materials cost is increasing due to worldwide bad weather.

Anshan Iron and Steel increased hot coil export price by US$ 10 to US$ 710 per tonne to Japan for rolling in January from December. The firm increased the price to improve profitability when iron ore price should increase in January-March. The firm seemed to decide the additional price hike in February rolling to higher reflect metallurgical coal price under short supply due to flood in Australia.