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
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.
Steel Review - September Issue
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