Tokyo (Reuters) - Japanese steelmakers' talks with South Korean customers on August-October exports have reached stalemate as a slowdown in the global economy and low-priced exports from China weigh on the market and the yen's strength makes price cuts difficult for Japanese exporters.
Japanese steelmakers are aiming for a price of $750 a tonne for hot-rolled coil for shipments during the three months, but South Korean customers insist on a level closer to $600, citing recent Chinese prices sold to South Korea of $600, two industry sources familiar with the matter said.
That level is similar to a year ago when the region's export market collapsed after China boosted exports ahead of tax changes aimed at curbing exports.
Asia's steel market shows no signs of a turnaround, the sources said, with makers in Japan, China and South Korea boosting exports despite signs of a slowdown in demand growth.
Japanese steelmakers' exports in the first six months of this year totalled 21.54 million tonnes, down only 2.3 percent from the same period a year ago when exports hit a record.
Japanese steelmakers were the world's biggest exporters last year, with Nippon Steel Corp , JFE Steel deriving half their revenues from exports.
Taiwan's China Steel Corp said on Friday the company has started to consider whether to bring anti-dumping suits against Chinese, South Korean and Japanese products, saying low-priced imports are disrupting the market.
Imports of Chinese thick-plate that contain boron particularly show steep import gains, the company told Reuters.
(sourced Reuters)
Japanese steelmakers are aiming for a price of $750 a tonne for hot-rolled coil for shipments during the three months, but South Korean customers insist on a level closer to $600, citing recent Chinese prices sold to South Korea of $600, two industry sources familiar with the matter said.
That level is similar to a year ago when the region's export market collapsed after China boosted exports ahead of tax changes aimed at curbing exports.
Asia's steel market shows no signs of a turnaround, the sources said, with makers in Japan, China and South Korea boosting exports despite signs of a slowdown in demand growth.
Japanese steelmakers' exports in the first six months of this year totalled 21.54 million tonnes, down only 2.3 percent from the same period a year ago when exports hit a record.
Japanese steelmakers were the world's biggest exporters last year, with Nippon Steel Corp , JFE Steel deriving half their revenues from exports.
Taiwan's China Steel Corp said on Friday the company has started to consider whether to bring anti-dumping suits against Chinese, South Korean and Japanese products, saying low-priced imports are disrupting the market.
Imports of Chinese thick-plate that contain boron particularly show steep import gains, the company told Reuters.
(sourced Reuters)
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