Japanese mills have increased their export prices of cold rolled non-grain-oriented steel (CRNGO) to China by US$20~30/ton month-by-month since October, attempting to reach at US$750/ton CFR although CRNGO prices unchanged by Chinese main steel mills for October and November. For Chinese market, the demand for air conditioner is hectic to enhance product inquiries for Japanese companies in China. Also, Japanese auto producers have revived their production in China, boosting the demand for CRNGO greatly as well. Japanese steel mills accordingly have confidence to keep the price soaring trend at least until next January delivery shipment.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67325&division=A2
