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China Thread Steel Price Rise in Korean Market

By , 2007-09-14 12:00:00

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Recently, China thread steel sells at 470,000 WON/ton in Korean market, 10,000 WON/ton higher than last week. At the end of February, China thread steel sold at 450,000 to 470,000 WON/ton, 20,000 WON/ton higher than last week. Thread steel from Japan is 20,000 WON/ton higher than that from China.

December 2006, China thread steel sold at 410,000 WON/ton. However, since 2007, the price has kept growing every week. The current price is 40,000 to 50,000 WON/ton higher than the beginning of this year. The climb of imported thread steel in sales price is attributed to the persistent increase of imported price. Since March, the sales price has growth as much as 30,000 WON/ton overnight. Furthermore, it is difficult for Korean construction companies to directly import China thread steel due to China's tense stock.

The D10MM China thread steel is now quoted CFR USD460/ton when exported to Korea, an increase of 20 US dollars compared with last week.

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