Taiwanese companies reduce steel prices
Taiwanese steel companies Yieh United Steel Corp (Yusco) and Tang Eng Iron Works reduced their prices for hot and cold rolled products for both domestic and export market.
The prices colled rolled products of these two companies saw $96 decrease while the hot rolled products saw around $64 decrease per ton for the domestic market.
Furtermore, Yusco reduced its hot and colled rolled export prices by $50 and $100 per ton respectively. Tang Eng's export prices saw decreases around $40 per ton.
The Labor Day holiday in
China caused to a slowing down in demand for the products of these companies and led to the decrease in prices.
Yusco's current
stainless steel price is around $2'550/metric ton for classification 304, 3 mm product and $2'950/metric ton for classification 304, 5.5 mm
wire rod.