Flat Steel producers in the international market are not willing to cut prices further. Following is the market highlights of major flat steel producing countries:
Japan: Flats exporters not ready for further price cuts
Seasonal slowdown in demand kept Japan's flats market tensed
and Japanese exporters have kept prices at last week's level.
Deal prices for
HRC are $600-610/MT FOB & for full-hard CRC it is $670-680/MT FOB i.e. down
buy $ 20-30/MT (M-o-M). According to market participants, by August, sellers plan
to start offering the material at higher prices.
US: Producers want to see higher prices
There is still tension between sellers and buyers in the US
coils market. Believing that prices have touched the bottom already, local
mills want to lift transaction prices. Major US producers want HRC and CRC
deals to be signed at least at $700/MT($635/short ton) EXW and $810/t
($735/short ton) respectively.
Some of the recent deals for HR products were closed at
$645-667/t ($585-605/short ton) EXW at the end of last week and for CRC – at
$750-777/t ($680-705/short ton) EXW.
China: HDG Exporters
regain control over prices
Chinese exporters have regained control over prices after
the three-week reduction due to stronger demand from South America and Africa.
However, there were only few such deals so far. Market players expect HDG prices
to remain stable until late July if buying continues from South America and
Africa.
In particular, stockists’ prices for 1 mm and 0.5 mm HDG
with 120 g/sq m coating is heard at $780-790/MT (RMB 4,970-5,040/t)
ex-warehouse and $820-830/t (RMB 5,245-5,315/t) ex-warehouse respectively.
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