BEIJING (Scrap Monster): The Japanese mills which enjoyed the monopoly of large H-beam exports are reportedly facing stiff competition from Korean and Taiwanese mills. The export prices in June for these products were $800 CFR. However, the launch of these products by Taiwanese mills has forced Japanese mills to reduce the export prices by $40 CFR. The export prices are expected to drop further on increased competition from Korean and Taiwanese long H-beam producers.
Meanwhile, Korea has begun antidumping (AD) investigations on steel H-beam imports from China. Consequently, the H-beam imports to other Southeast Asian markets are likely to pick up. The H-beam imports by Japan from China have increased slightly during the month of June this year.
Interestingly, despite the commencement of the AD investigations, the export quantity of H-beams from China to Korea has not dropped significantly. The offer price for small and medium-sized H-beam by Chinese mills to Korea dropped to $500 CFR foe September shipments. The offer prices fell by $30 when compared with the prices of August shipment.
The two Korean steel majors- Hyundai Steel and Dongkuk have raised their domestic H-beam prices for July shipments. But the price hike is less likely to stay for August shipments, sources added.