JFE Steel Offers HR Coil Exports To ROK Steel Rerollers At 450 dollars FOB

摘要

JFE Steel Corp has offered HR coil exports at 450 US dollars /ton FOB to South Korea's major steel rerollers such as Hyundai Hysco for shipments in the April-June quarter of 2004. There are prospects of actual shipments in May-July 2004. The price on offer amounts to an increase of 110 US dollars from JFE Steel's negotiated price of 340 US dollars /ton FOB in its HR coil exports to the Korean steel rerollers for shipments in the January-March quarter. In Asian markets, HR coil transaction prices continue surging and they have already hit a level of 500 US dollars /ton FOB in part. For an indicator, Filipino user National Steel Corp (Nasco) is said to have bought HR coils from India at around 600 US dollars /ton C&F. Given Nasco's purchase price, a Japanese HR coil price of 450 US dollars /ton FOB is viewed as a low level in Asia.