Feng Hsin Iron & Steel hikes scrap price
Taiwan's major steel long products producer, Feng Hsin Iron & Steel has announced to hike its scrap purchasing price and rebar price by NT$300 per ton.
Japan's scrap price has soared to US$390 per ton and the US scrap price has increased to US$363 per ton during Chinese New Year vacation.
Because of the snowstorm in North America, it caused the scrap collection more difficult and pushed the scrap price to go up and Japan's scrap price has increased by about 8.3 percent recently; therefore, Feng Hsin has also hiked its scrap purchasing price by 2.67 percent and rebar offer price by 1.6 percent.
The company may raise their price again later if the domestic market demand keeps going well in order to match the global steel price level.
   
Japan steelmakers agree on 55 percent coal price rise
Japan's two major steelmakers have agreed on 55 percent coal price surging with Rio Tinto Group and Teck Resources Ltd.
As agreed between coal miners and the second and the third largest steelmakers JFE Holdings Inc. and Sumitomo Metal Industries Ltd, they will pay about US$200/ton for the new quarter starting April 1.
Nippon Steel, Japan's largest steelmaker declined to comment on the new coal price, which is only US$129/ton for the current year which ends on March 31.
   
Posco plans to invest in Vietnam plant
Korean steelmaker, Posco, also the Asia's largest stainless steelmaker, said it plans to invest US$200 million on expansion to a Vietnam plant since the acquisition of Thailand's Thainox Stainless has been delayed.
Posco's will make an alternative plan to raise up the capacity of its Vietnam plant, which was acquired last year, to about 200,000 tons a year from current 85,000 tons.
The company also said that the Southeast Asia market is now getting important as its demand is expected to rise about 9.2 percent a year.
   
JFE may drop plan for Thai Plant
JFE Holdings Inc.'s steel unit may locate a new plant outside of Thailand, if the country doesn't clarify its steel policy this year, citing the president of a local steel institute.
JFE Steel Corp. won't wait beyond the end of this year for a conclusion of discussions, citing Wikrom Wajragupta, President of the Iron and Steel Institute of Thailand. Thai Economic Ministers last week requested further studies of the potential impact of steel developments on tourism, the report said.
JFE said it hasn't decided on the location of the plant in Southeast Asia. JFE, Japan's second-largest steelmaker, is conducting preliminary surveys on building the plant in Thailand and Vietnam, the company said.
Dragon Steel to supply slabs to CSC Group
  Taiwan's Dragon Steel announced that its blast furnace will start official operation on February 26th.
The No. 5th blast furnace has already sent its first shipment of steel slabs to China Steel Corp. (CSC) and Chung Hung Steel (CHS) in last week.
The first shipment of slabs is about 4,000 tons and it helps CSC Group to release their pressure in raw material supply.
Currently, the slab price in the global steel market is prevailing about US$620 to US$630/ton.
     
  Japanese iron and steel exports up 71.7 percent  
According to the customs statistics released by the Japanese Ministry of Finance, the country's total iron and steel product exports in January this year amounted to 3.44 million metric tons, decreasing by 10.7 percent month on month and up 71.7 percent compared to January 2009, generating a total of US$3.08 billion in value. Meanwhile, Japanese iron and steel product imports in January surged by 14.7 percent over December 2009 and were up 25 percent year on year to 542,370 metric tons, reaching a total value of US$639.54 million.
Regarding Japan's major export markets, in January the country's iron and steel product exports to South Korea totaled 948,475 metric tons, decreasing by 5.8 percent month on month but up 63.8 percent compared to January 2009; exports to China declined slightly by 0.9 percent over December and amounted to 600,000 metric tons, up 70.5 percent year on year, the export volume to Taiwan reached 324,000 metric tons, down 29 percent month on month and climbing by 103.1 percent year on year, exports to Thailand totaled 401,120 metric tons, decreasing by 0.5 percent over December and up 118.2 percent compared to the year-ago period, while exports to the US came to 69,118 metric tons, decreasing by 37.5 percent month on month and down 46.1 percent year on year.
In January, Japan imported 211,158 metric tons of iron and steel products from South Korea, up 1.3 percent over December and up 46.7 percent year on year, it imported 126,402 metric tons from China, increasing by 32.8 percent month on month and up 50.5 percent year on year, while imports from Taiwan came to 60,101 metric tons, increasing by 9.8 percent over the previous month and down 1.5 percent year on year.
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