Prices of steel exports from Japan are to increase

Prices of steel exports from Japan are to increase

Depending on reports from the industry, it is observed that steel prices for exports from Japan rose in October as steel producers give pace to the rise in export prices due to higher costs or weak US Dollar. Besides, the upward trend in export prices is expected to continue. However, steel exports in the first ten months of 2003 from the country recorded a 5.9% decrease over same period last year, as reported at the beginning of this month by SteelOrbis. According to figures on hand, the average export price in October reached to $593/ton on FOB basis; with a $33 increase over September. The increase in export prices were mainly seen in steel sheets; such as cold rolled, hot rolled and hot dipped galvanized steel sheets. In the period covering 2000-2002, it was just the opposite with increase in export amount and decrease in average export price.