H-beam offer from China to S. Korea

3,000 mts of Chinese-origin H-beam of 300-450 mm x 300-450 mm x 10 mm x 15 mm has been offered to South Korea at $500/mt FOB on actual weight basis via payment by letter of credit for February shipment. SteelOrbis learned that the quotation for such items has increased by $10/mt compared with the previous $490/mt level. It was reported that China's four key H-beam producers have currently filled their order books with orders from abroad, which cover their production until May, 2007. This results in short supply in the domestic market. Some exporters have already received notification from steelmakers to limit their orders.