| News | ||
| Japanese plate transaction prices on upward trend - 22 Mar, 2010 | ||
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According to Japanese steel industry sources, transaction prices of heavy plates are trending upward as a whole in various steel exports out of Japan thanks to a rapid expansion of the world's heavy plate demand in energy related sectors such as oil storage tanks, pressure vessels and LNG plants in addition to a recovery of heavy plate demand for construction machinery. As a result, there are growing cases of heavy plate exports with a price increase of USD 100 per tonne for shipments between late March and early April. Also, some export deals have already shaped up at prices beyond USD 700 per tonne FOB to a level of USD 750 per tonne FOB. Even a larger price increase of USD 120 to USD 130 per tonne applies to specialty steel heavy plates for export. There are prospects that Japan's export prices of heavy plates will further rise for May to June shipments, given an advance in raw materials prices. Under the existing circumstances, though, Japanese integrated steelmakers claim that the current prices border on a cave in level when it comes to their exports of ship plates to South Korea. Accordingly, they are trying to get increased prices of close to USD 800 per tonne FOB in their ship plate exports under negotiation with South Korea's shipbuilding companies for shipments in and after April. But the negotiations face rough going because the Korean customers are demanding a major price reduction on grounds of a tough situation for their operations. In South Korea, meanwhile, information is circulating that integrated steelmaker POSCO have begun to sound out domestic manufacturing industries including shipbuilding as to whether they will accept price increases of steel supplies from POSCO. It is understood that POSCO has taken action for domestic price increases of various steel products to meet considerable price increases in the company's contract renewals of iron ore and coking coal imports. (Sourced from TEX Report Limited) | ||
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