J mills to meet while NKK studies buying Dongbu shares
The General Managers of Japanese mills have decided to meet in order to discuss the steel product prices this week. SteelOrbis understands
production cuts might also be discussed at the same meeting.
On the other hand it is reported that, the NKK is studying to be a shareholder of Korean mill Dongbu and make a long term contract to supply 500,000 mt of
HRC per year.
NKK and Kawasaki will merge under name of JFE this October, and consequently the new company will be holding long term contracts with Koreans totalling 1,5 million mtons. The breakdown of the contracts is as follows.
Hysco : 500,000mt
Dongbu : 500,000mt
Union : 250,000mt
Seah : 250,000mt
Kawasaki has already increased
slab supply to DKK from 100,000 mt per quarter to 150,000 mt per quarter for the third quarter of the year.