It is reported that South Korean steel giant POSCO is likely to trim export prices of hot rolled coils steel to Japan by JPY 2,000 tonne to JPY 3,000 tonne for the Q1 of 2015.
Currently, Japan’s suppliers have planned to cut their prices by the similar range to offset cheaper import materials. POSCO will also reduce its supply of HRC to Japan due to the weakening yen.
According to Japan Iron & Steel Federation (JISF), Japan’s imports of HRC rose to 151,000 tonne in September, up by 12.5% from the previous month and soaring by nearly 51.5% from the same month of last year.
Source – metal
Zhejiang Yaang Pipe Industry Co., Limited