Strong Japanese Construction Steel Export Price

Japanese steel export price is rapidly increasing for construction steel. H-beam price increased by US$ 30-40 to FOB US$ 720-750 per tonne for May-June shipment to South Korea from the previous month while section steel price increased to around US$ 700 to Southeast Asia and electric furnace steel makers raised concrete reinforcing steel bar offer to US$ 630-640 for April shipment to South Korea. Japanese makers receive inquiries from the offshore users due to the weak yen and growing demand in overseas countries.

Tokyo Steel Manufacturing increased the offer for H-beam export to FOB US$ 800 per tonne for May-June shipment when ferrous scrap price increased. Other makers increased the offer by US$ 20-30 to more than FOB US$ 700.

Rebar export price is FOB US$ 590-600 per tonne for the shipment in April. Electric furnace makers increased the offer to US$ 630-640 due to the increase in ferrous scrap price. The makers receive the order only for the short term delivery considering the material price volatility risk.

Construction steel market price is increasing in South Korea. Hyundai Steel increased rebar and section steel price by 50,000 won from April and Dongkuk Steel increased the price. The market price increased to 750,000-760,000 won for rebar and 800,000-850,000 won for H-beam in South Korea.