Japanese steelmakers are currently negotiating with South Korean clients for the exports during August to October. However, both sides have reached stalemate due to a slide in global economy, China’s cheap exports, strong Japanese Yen.

It’s known that Japanese steelmakers are seeking to settle the prices of hot rolled coil (HRC) at US$750/ton for the shipment during the three months; however, South Korean customers had bid US$600/ton for the products as the prices of China’s material sold to South Korea are at US$600/ton.

Industry sources indicated that Asian steel market has remain weak as makers in Japan, China and South Korea are increasing exports in spite of the slowdown in demand.

Meanwhile, Taiwan’s China Steel Corp. (CSC) is mulling to bring antidumping suits against the steel imports from China, Japan and South Korea. The company said that the low priced imports are damaging the local market.