Japan Flat Rolled Export Price Increases by US$ 30

Japanese integrated steel makers seemed to increase flat rolled steel export price by around US$ 30 per tonne for the shipment in October from September. The flat rolled market price in China, worlds’ largest market, turned upward when Chinese steel makers raised selling price for 2 months in a row through October shipment. The Japanese integrated steels’ export price increased to slightly less than FOB US$ 700 for hot rolled coil and to US$ 750-800 for thinner cold rolled coil for mother material for galvanized steel, according to one Japanese industry source. However, the shipment decreased to re-rollers in South Korea, according to Japanese integrated source.

Japanese integrated steels plan to increase the export price for November shipment to improve the profitability when raw material cost remains high and yen appreciates against the US dollar. On the other hand, the market price in China fluctuates and South Korean steel makers, POSCO and Hyudai Steel try to increase the shipment offering lower price due to the capacity expansion. Japanese steels would have experience hard time to increase the export price.