Japan's integrated steelmakers are expected to start negotiations this week on their export deals of CR sheets, hot-dip galvanized (HDG) sheets and electrolytic galvanized (EG) sheets for shipments to the rest of Asia, mainly to China, in February 2011. The Japanese steelmakers have succeeded in settling flat prices in their export deals of the three sheet products for December and January shipments to Asian destinations. With the flat price settlements, the Japanese steelmakers believe that transaction prices have bottomed out in Asian deals of what they export as CR sheets, HDG sheets and EG sheets. Therefore, they are on track to face a crucial juncture in negotiations on their export deals for February shipments as to whether they can win rebounded prices and set the stage for a continued upswing in prices from March shipments onward.
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