I-beam export prices fall due to competition from Asian countries

Japanese factories, which previously enjoyed a monopoly on the export of large I-beams, are facing stiff competition from Korean and Taiwanese factories, experts say. Export prices for these products were at $ 800 CFR in June.

However, the production of these products by Taiwanese factories forced the Japanese factories to cut export prices by $ 40 CFR. Export prices are expected to fall further amid increased competition from Korean and Taiwanese H-beam manufacturers.

Meanwhile, Korea has launched an anti-dumping (AD) investigation into the import of steel H-beams from China. Consequently, imports of I-beams in other Southeast Asian markets are likely to rise. That being said, imports of H-beams from China rose slightly in June this year, while exports from Japan of H-beams fell 35 percent to 28,700 tons in June. Japanese exports to South Korea reached 5,100 tons, accounting for nearly 18 percent of total exports in June.

Interestingly, despite the initiation of an AD investigation, the export volume of H-beams from China to Korea has not significantly decreased. The offer price for small and medium H-beam Chinese enterprises for Korea has dropped to $ 500 CFR for September delivery. Offer prices are down $ 30 from August shipping prices.

Two Korean steelmakers Hyundai Steel and Dongkuk raised their domestic H-beam prices back in July, but further price increases are unlikely for August and September shipments, experts say.