Major Japanese steelmaker to increase plate offers by $30/t in Southeast Asia

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...

Published

Miranda Song

July 20, 2020

11:25 GMT

Shanghai