JFE Holdings Inc said that it aims to raise steel export prices to its main markets in Asia due to strong demand for high end steel used for consumer electronics, cars and cans.
Mr Tsutomu Yajima SVP of JFE Holdings' core unit JFE Steel Corporation said that the company had already signed contracts for a 15% rise in prices of high end sheet steel for January to March 2010 quarter with some customers in Thailand and Malaysia from the previous quarter.
He said that JFE aims for the same level of price increase in soon to start talks with its Chinese customers. He added that "There has been a surge in inquiries that exceed our capacity for some products."
Mr Yajima said that JFE aims for about a 10% rise in export prices of hot coil and about USD 50 per tonne rises for thick plates and construction steel in January to March 2010 quarter. He added that as JFE is cranking up output to meet strong demand in Asia, he expects the company's output in the October to March second half to top its plan for 13 million tonnes