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Home > MEPS Steel News - 06.11.2013

JAPAN STEEL MARKET ROUNDUP FROM MEPS

The Japanese economy is still improving. Domestic steel selling values are on an upward trajectory in October as a result of escalating input costs, particularly electricity and scrap. Tokyo Steel has announced that it will leave its November domestic list prices largely unchanged to allow previous hikes to be absorbed. The weaker yen is deterring importers. However, export volumes fell in September. The main loss was in key Asian markets such as South Korea and Taiwan, where demand is weakening.

Hot rolled coil producers have secured their proposed domestic price advance. Local sales continue to climb as the economic situation recovers.

Sales of plate to the shipyards have finally started to strengthen. Demand from construction, public works and civil engineering projects is healthy.

Cold rolled coil demand is improving, particularly from the carmakers. However, export activity has declined a little of late. For now, selling numbers are stable but we may see some upward movement soon, as producers plan to impose a cost-driven hike when market conditions allow.

The supply/demand balance for H-beams has tightened, where sales to the construction sector are improving. Producers are allowing time for Septemberís hike to fully penetrate the market before pushing for further increases.

Japanese housing starts are on the increase. Rebar producers have maintained the higher domestic selling figures they implemented in September.


Source: MEPS International Steel Review

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