TEX reported that the Japanese blast furnace mills are expected to commence negotiations on hot rolled steel coils for Southeast Asia for shipment of September to October as early as next week.
Their final offer prices are unlikely to be fixed yet but they are on track to raise their prices by USD 20 to USD 30 from current ones.
In the Southeast Asian region, there are some to start negotiations for September shipment from now on but such negotiations are mainly for October shipment for Vietnam and so on.
Since June, prices have been maintained almost flat at the level of USD 560 CFR and a stance among the Japanese mills is seen to cope with an increase in price for October shipment in earnest after so long.
Usually, it falls on the demand season in autumn from October shipment when it is easy to raise prices. This year, grounds to support this come out. First, it is the fact that Chinese mills begin to offer an increase in price by USD 5 to USD 10 for Southeast Asia. In the previous quarter, once they offered a price increase but withdrew it soon when customers opposed it but such things are not reported this time for the time being.
Source – The TEX Report