TEX reported that Japanese integrated steelmakers have begun to nail down price increases of USD 20 to USD 30 per tonne for January shipments in negotiations on their deals of CR sheet exports to Asian destinations for shipments in the January to March quarter of 2010.
They are contemplating seeking a more price increase in what they negotiate for February shipments onward so that they can achieve a target price level of USD 700 per tonne FOB for March shipments. A monthly price settlement is the norm of Japanese CR sheet exports to China. So far, price increases of USD 20 to USD 30 per tonne have shaped up in Chinese deals under negotiation for January to March shipments next year.
For the initial target, the Japanese steelmakers are struggling to wipe out prices of USD 650 per tonne FOB or below in what they sell. The price increases in point have begun to penetrate into Southeast Asian deals as well for the corresponding shipments.
With CR sheet prices on the rise in Asia, mainly in China, there are prospects of an upswing in CR sheet prices in the USA as well. At present, the USA's domestic CR sheet market is on the downside, but integrated steelmakers such as AK Steel Corp profess to price up CR sheets by USD 30 per tonne in domestic sales for January shipments. Meanwhile, there is information about uncertain prospects of CR sheet prices in Europe.