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China Precision Steel, Inc. Message Board

  • dbergh1 dbergh1 Apr 14, 2010 2:49 PM Flag

    Steel price increases

    Steel price increases seen offsetting cost escalation
    Asia Markets
    April 14, 2010,


    HONG KONG (MarketWatch) -- As shares of major Asian steelmakers continue to under-perform on concerns that rising raw material prices will eat into their margins, some analysts remain positive on the industry, saying product prices will keep pace with surging costs.

    Shares of major steel companies in Japan, China and South Korea have had a poor run compared to the respective benchmarks in their countries so far this year, as Australian and Brazilian miners steeply hiked prices of key raw materials such as coking coal and iron ore.

    And Japanese steelmakers last month accepted the terms of a new pricing arrangement for coking coal with BHP Billiton Ltd. /quotes/comstock/13*!bhp/quotes/nls/bhp (BHP 82.75, +1.37, +1.68%) /quotes/comstock/22x!e:bhp (AU:BHP 43.99, +0.15, +0.34%) , under which contract prices are reset every quarter, more often than the earlier practice of resetting the prices every year.

    But even amid fears that miners may increase prices of raw materials further under the new pricing arrangement, some analysts are hopeful that rising spot prices for steel will offset the impact of the cost escalation.
    http://www.marketwatch.com/story/steel-price-increase-seen-offsetting-cost-rises-2010-04-14?reflink=MW_news_stmp

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