Korean prices of GS-grade hot rolled sheets which are brought in line with resistance against imports appear to show performance. According to the hot rolled coils distributors, GS prices on distribution channels posted 680,000~690,000 won per ton during the third week of March. The current level is a reflection of the price increases pushed ahead by distributors including hot coils steel service centers nationwide.
However, it may be earlier to acknowledge that the market is responsive under the continuing weak demand. If continued constraints keep going until the later part of March, they might withdraw the priority policy of price increases. Meanwhile, Chinese hot coils export offer prices continued steady, sustaining $550 per ton range lasting a month. Chinese mills averaged $555 per ton during the third week of March destined to Korea, the same as for the first and second week of $555 per ton.
Some of importers assess they are taking breather temporarily considering a fast hike over the first quarter, in tandem with a rising in both China’s domestic price and iron ore import prices.
Source: Steel&Metal News |
