A major Japanese steelmaker is trying to increase its plate offers for Southeast Asia by $30 per tonne from last month to boost profit margins, a source with knowledge of the matter told Fastmarkets. The mill plans to offer $540-550 per tonne cfr Southeast Asia for October-delivery steel plate, after it received enough orders for September-delivery plate that was offered at $510-520 per tonne cfr Southeast Asia, a source at the mill said. The surging prices in the iron ore market have triggered an approximate $20-per-tonne increase in the mill’s steel production costs in the past two months, a second source close to the matter told Fastmarkets.
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