It’s reported that the Japanese steelmakers hiked export prices of hot rolled (HR) steel products to certain Korean buyers to US$630~US$640/ton FOB for April, rising by US$20~US$30/ton from a month ago.

Moreover, the Japanese steelmakers expect that export prices of HR steel products to Korea might reach US$650/ton FOB.

However, the Chinese steelmakers’ export prices of HR steel products to Korea for April have dipped to US$620~US$630/ton CFR from US$660/ton CFR in a month ago.

It’s known that the HR steel product prices have decreased for consecutive two weeks in the Chinese steel market.

According to statistics of China Iron & Steel Association (CISA), the HR steel product prices decreased by RMB80/ton in Beijing market; the prices dropped by RMB50/ton in Shanghai market.