Japanese mills seen actively participating in HRC (1.8 mm) export market.According to market sources Bangladesh importer have booked HRC (1.8 mm ) cargoes from Japan at around USD 610/CFR basis.This is equivalent to USD 585/MT FoB Japan.
Last week major mills in Japan like JFE and Nippon had also offered HRC in the range of USD 605-610/CFR Vietnam.
Also,demand for flat steel from overseas buyers have increased since Chinese mills are planning to slash their export volumes amid preventive measures taken to control smog in the domestic market.This can prove to be the better opportunity for Japanese mills to explore export options in overseas market.
Meanwhile,Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker are planning to increase steel prices by Yen 3000/MT (USD 27/MT) for the month of December owing to positive demand in domestic as well as global market along with hike in scrap purchase price.
Major destination for Japan flat steel exports in Jan-Sep’17-In the time span of Jan-Sep’17 japan has majorly exported flat steel to China and has occupied the share of 16%. Other major destination of flat steel exports from Japan include Thailand accounted for 16.10% of share,South Korea at 13.12% followed by Mexico at 7.25% and Vietnam at 7.55 %.
Leave a Reply