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Negotiations on shipbuilding plates for Korea

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July 2, 2014

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Negotiations on steel plates for shipbuilding by the Japanese mills have made no progress even after the Lunar New Year holidays for shipments of January through March and are in a state to be stalemated. In the past, there had been cases that negotiations had been prolonged and settled after passing a quarter of shipments, and it is in the similar situation this time too.

The Korean shipbuilders are strongly asking for a decrease in prices this quarter as well. It is said that their required range of a price reduction does not reach USD 50 but is close to this level. Against this, the Japanese mills are insisting that it is not an aspect to reduce their prices due to the tightened domestic supply of plates and would rather raise their prices even slightly.

Domestic negotiations on plates in Korea seem also not to be moving. Negotiations between Hyundai Heavy Industries and POSCO are said not to have progressed during the past month.

Hyundai Steel is said to have accepted a decrease in prices for shipments of the previous quarter prior to POSCO.

The company is watching the progress of negotiations as the second negotiator this time and accordingly any progress by that company cannot be expected. Meantime, there is information that the Chinese mills settled negotiations on plates for Korea at a slight decrease in prices. Attention is paid to whether negotiations will move in the wake of this.

Meantime, the Korean shipbuilders see for the environment of shipbuilding in 2014 to be tough and intend to purchase material plates as low as possible. Therefore, it is said that there is also the request to set prices at a low and stable level changing negotiations for shipments of January through June instead of January through March.

Source: hellenicshippingnews

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