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Home > MEPS Steel News - 06.10.2015

JAPAN STEEL MARKET ROUNDUP FROM MEPS INTERNATIONAL LTD

Japanese producers failed to keep hot rolled coil transaction values stable, in September, according to MEPS. Demand in the local market is lacklustre. Export price offers have been reduced substantially because of fierce competition from Chinese suppliers.

Tokyo Steel has slashed official commodity plate prices for October business. Sales to the construction industry have yet to revive. Overseas sales are difficult, forcing producers to continually lower export offers.

Domestic cold rolled coil selling values declined in September. Demand from the carmakers was weak. The inventory drawdown is taking longer than previously envisaged.

Wire rod numbers were down 3.3 percent in September compared with August, due to weakening scrap costs. Demand from the construction sector was muted. Meanwhile, Tokyo Steel has slashed its official structural sections list prices for October. The decrease, a result of plummeting scrap costs, is the first in almost a year.


Source: MEPS International Steel Review - September Issue

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