Posco, Chinese Steelmakers Stop Low-Priced Steel Exports

摘要

South Korea's integrated steelmaker Posco and China's various steelmakers have stopped their exports of steel products at low prices, export deals that are known have gone rampant in Asia, it was learned in Tokyo Monday. A fierce competition among Posco and the Chinese steelmakers once brought a much lower level of 300 US dollars /ton FOB for CR sheets from the initial one of 430 US dollars /ton FOB. Until now, though, what they charge for various steel products is believed to have hit bottom, market observers point out. There are expectations for an advance in steel transaction prices in Asia for July-September shipments if low prices have completely disappeared, according to market sources.