Japan Magnetic Steel Sheet Makers to Raise Export Price

Japanese integrated steel makers will raise export price of non-orientation magnetic steel sheet to FOB over US$ 1,200 per tonne due to strong demand from motors or transformers. The export price already reached FOB US$ 1,100-1,200 for July-September shipment. As to orientation magnetic steel sheet, the makers are expected to raise the export price by over US$ 1,000 per tonne for the shipping in fiscal 2009 starting April. Japanese export price is cheaper than Chinese products which already reached US$ 5,700-5,800 per tonne. Japanese mills will start price negotiations soon. The supply and demand keeps tight worldwide. The demand for non-orientation magnetic steel sheet is steady when active business investment continues from motors or compressor plants in Asia. Users in China are requiring Japanese high-efficient magnetic sheet when Chinese government beefs up energy saving controls. The supply of orientation magnetic steel sheet is also tight when the demand is strong from electric power related applications mainly in emerging countries. The makers are limited globally those who can supply high-grade products.