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Export prices H-beams collapse by rise of Korea and Taiwan

As the Korean Government has commenced an antidumping investigation on steel H-beams imported from China, it is concerned about Chinese products to flow back to Japan and other Asian countries but according to a source, there is almost no influence in the Southeast Asian region for the time being although export of them is increasing slightly to Japan.

Export quantity of H-beams for Korea by Chinese mills seems not to have decreased even after the start of the AD investigation. Rather, they have secured quantity by cutting their prices seeing so active. For September shipment, a Chinese mill’s offer price of small and medium sized H-beams is said to be USD 500 CFR.

Laiwu Iron & Steel seems to have offered such price. That company is said to have been mounting an export offensive aggressively not only to Korea but also to the Southeast Asian region. Compared with its price for August shipment, such price is cheaper by USD 30 and is to have entered the level of USD 400 on FOB basis.

In Korea, Hyundai Steel and Dongkuk raised their domestic prices of H-beams by KRW 20,000 each for shipments of July and August totaling KRW 40,000. However, such price increase resulted in failure for July shipment and it is said that it is subtle for such price increase to be penetrated for August shipment as well.

As Chinese mills’ export quantity to Korea has not decreased, their products have not flowed back to the Southeast Asian region, so any influence of the AD issue cannot be found for the time being.

In the Southeast Asian region, Middle Eastern mills are active competing with Chinese products. Their prices are said to be USD 550 CFR or so. Korean and Taiwanese mills cannot compete with Chinese and Middle Eastern mills as far as small and middle sized products are concerned and accordingly, they are recently shifting to export of large-sized H-beams.

In Korea, Hyundai Steel and so on are able to produce large sized H-beams but had not almost appeared for export in the past. The Japanese mills had had the monopoly on such products and had kept USD 800 CFR until June.

However, a Taiwanese mill succeeded in production of large sized H-beams and has launched into the export market. As 3 countries are competing each other, prices collapsed by USD 40 all at once and have become the level of USD 760 CFR.

Source – The TEX Report

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