Japan Major Steels to Hike Sheet Steel Export Price for October-December

Japanese integrated steel makers try to increase the sheet steel export price for October-December. They study the price level and export volume toward the negotiation starting as early as mid-August. They apparently offer US$ 50-100 per tonne of hike depending on items and buyers. They try to realize higher price level at US$ 600 for hot rolled coil, US$ 700 for cold coil and US$ 800 for coated steel in the year to improve the profitability.

The steel makers realized FOB US$ 500 per tonne for hot coil export price to South Korean rerollers for July-September. The steel makers also increased the sheet export price by US$ 50-100 for other buyers. Their spot export price increases to US$ 520 for hot coil and US$ 750 for hot-dip galvanizing steel for some buyers for September shipment.

Japanese major steel makers expect the demand keeps firm mainly in China toward the end of the year when appliances makers increase the operation for Christmas season. They get higher bid from Chinese and other buyers for shipment in and after October.

Japanese carbon steel export increased to 1.75 million tonnes in June compared with the bottom at 1.22 million tonnes in February. The volume could increase to more than 2 million tonnes in and after July when Nippon Steel plans 40% of the export rate for the sales volume and JFE Steel plans 48% of export in July-September.