Far East import prices rise while Chinese HR prices slow down

摘要

Sheet prices in Asia have risen in October, reflecting strong market fundamentals in the region and rising production costs. Owing to rising iron ore, scrap and slab costs, most producers have increased their ex-mill prices, thus passing on some of their additional costs to consumers. Indeed, Taiwan's China Steel Corp and South Korean steelmakers Posco and Hyundai Steel have led the way, raising their prices for hot-rolled sheet. In Japan, hot-rolled sheet producers such as Nippon Steel and JFE Steel, faced with strong domestic demand, have also been revising upwards their export prices to buyers in countries such as South Korea. Far East sheet import prices have therefore risen in October, increasing by 10-30 US dollars /tonne month-on-month.