Top Japanese mill to raise HRC offers on bullish Q2 sentiment

A leading Japanese steelmaker will raise its hot-rolled coil offers for March-shipment material by up to $15 per tonne due to its bullish expectations for the Asian HRC market in the second quarter of the year, a source with knowledge of the matter told Fastmarkets MB.

The steelmaker is planning to offer March-shipment SS400 cargoes at $545-550 per tonne cfr to Malaysia and at $550-555 per tonne cfr to Indonesia. “Major Asian steel markets such as those in China have already started to stabilize, and demand will increase after the Lunar New Year holidays once seasonal demand returns,” the source said. This comes after major Chinese market participants saw thinner margins in...

Published

Paul Lim

February 12, 2019

07:37 GMT

Singapore