| Export and Import Levels | ||
| Update on Japanese export talks on CRNGO - 21 Aug, 2008 | ||
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Japanese integrated steelmakers are expected to start negotiations at the end of August 2008 on their exports of non grain oriented electrical sheets to non Japanese consumer electronics companies in Asian destinations for shipments in the October to December 2008 quarter. Indications are that the non Japanese customers will attach importance to assured supply volumes of non GO electrical sheets rather than price terms as the Japanese steelmakers have no spare capacity in what they export. In the negotiations this time, it remains to be seen what export volume Nippon Steel Corporation can provide in the aftereffects of a recent fire in its Yawata works. The fire broke out in a conveyor belt unit connected to the number coke oven. NSC is quoted as saying that the company has yet to make sure of an exportable volume for non GO electrical sheets. The non Japanese customers are willing to take offer prices as they are if supply volumes of non GO electrical sheets meet to desired levels, according to market sources. As a result, the Japanese steelmakers see an environment that will permit a price increase of USD 100 to USD 200 per tonne if they can allocate sufficient quantities for the non-Japanese customers for October to December 2008 shipments. If the price increase goes through, Japanese export prices of non GO electrical sheets will exceed a level of USD 1,300 per tonne FOB in Asian deals for Q4 shipments. The Japanese steelmakers have won a price increase of USD 250 to USD 300 per tonne in negotiated exports of non GO electrical sheets to the non Japanese customers for July to September shipments. For April to September shipments, a cumulative price increase has hit USD 450 to 500 per tonne. Meanwhile, the Japanese steelmakers are scheduled to begin their negotiations next week on export contract renewals of GO electrical sheets for shipments to Europe and USA in 2009. Some Japanese steelmakers will offer a price increase of USD 1,000 per tonne or more, while others will offer a price increase of USD 1,500 to USD 2,000 per tonne. (Sourced from Tex) | ||
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