November 22, 2008

Nippon settles SBQ plate deal with South Korean shipyards

Nippon Steel Corp is reported to have settled its ship plate export negotiations with South Korea's major shipbuilding companies at JPY 140,000 per tonne to JPY 150,000 per tonne on FOB basis for shipments in and after October. The prices translate into a level of USD 1,300 per tonne to USD 1,380 per tonne on FOB basis.

NSC keeps mum about whether the company has agreed with the Korean shipbuilding companies on price terms and the contract period for reasons of separate contracts.

As per report, NSC has concluded a half year supply contract each with Hyundai Heavy Industries Co Ltd and Samsung Heavy Industries Co Ltd for shipments in October 2008 to March 2009.

NSC is believed to have slashed its export volumes of ship plates to South Korea this time because the company gives priority to heavy plate supplies for domestic shipyards in Japan.