It's reported that some Chinese steel mills are mulling to raise the export quotes of hot rolled (HR) steel to South Korea by US$20~US$30/ton to US$640~US$670/ton for April delivery.
At the same time, Japanese steelmakers are negotiating the April export prices of HR steel with South Korean buyers. It's said that Japan's April export prices of HR steel would be at US$700/ton CFR.
In South Korean domestic market, Hyundai Steel said that it has started the April price negotiation and it planned to reduce the discount by 30,000 won~50,000 won/ton for HR steel products. Thus, the company's April HR steel prices might rise to 800,000 won/ton