Japanese Plate Makers and South Korean Shipbuilders in Hard Price Negotiation

Steel plate price negotiation is tangled between Japanese integrated steel makers and South Korean shipbuilders. Japanese steel makers offered price hike but South Korean shipbuilders are unwilling to approve the hike. Some shipbuilders seem to have skipped plate purchase for April shipment. Steel makers are offering the hike by about US$ 150 per tonne.

Japanese plate export price is rising to Asia except for shipbuilders. The export price is near US$ 700 per tonne for construction machine or energy industry in Asia, which is expected to surge more in May.

International plate market price is also rising. Japanese plate export price is around US$ 600 for South Korean shipbuilders at present. Japanese steel makers require the price hike due to rising raw material prices. On the other hand, South Korean shipbuilders are resisting the hike when South Korean plate makers started operation of new plate mills and new order receipts of shipbuilding maintain low.