Major Japanese mill may hike offers past $1,000 per tonne amid rosy outlook

A major Japanese steelmaker is mulling increasing its offers for hot-rolled coil (HRC) past $1,000 per tonne southeast Asia due to the rosy market outlook, a source close to the steel mill told Fastmarkets.

The mill offered SAE1006 HRC at $1,000 per tonne cfr Southeast Asia for June-shipment cargoes in the previous week and at $1,050 per tonne cfr for other regions such as the United States and Europe.
"The mill's allocation of June-shipment material remains tight on strong demand from downstream domestic and overseas automotive and manufacturing activities," the source said.

The high offers from Indian steel mills above $1,000 per tonne cfr Europe, after concluding large quantities to Asia and Europe...

Published

Paul Lim

April 12, 2021

10:40 GMT

Singapore