Major Japanese steelmaker to raise August-shipment offer for HRC

A major Japanese steelmaker will hike its offers for August-shipment hot-rolled coil amid tight supply and high raw materials prices, a source close to the company told Fastmarkets.

The steelmaker will increase its offer to $1,100-1,200 per tonne cfr Southeast Asia, widening up by $50 per tonne compared with July-shipment materials. It will also increase its offer to $1,200-1,300 per tonne cfr to other markets such as the United States and Europe, widening upward by $100 per tonne. 
The steelmaker concluded its July-shipment HRC negotiations two weeks ago and will start negotiations for August-shipment cargoes this week.

Fastmarkets' steel hot-rolled coil import, cfr Vietnam price assessment hit an intra-year high of $1,050-1,100 per tonne on May 14, before subsiding to $950 per tonne on May 28....

Published

Paul Lim

June 09, 2021

09:00 GMT

Singapore