SteelOrbis has learned that, as of April 27, Chung Hung Steel Co. Ltd (CHS), a major Taiwan-based HRC/CRC re-roller and subsidiary of Taiwanese integrated steelmaker China Steel Corp. (CSC), has announced reductions for all its domestic flat steel prices, with decreases of NTD 400/mt for hot rolled coil (HRC), NTD 500/mt for cold rolled coil (CRC) and NTD 1,000/mt for hot dip galvanized (HDG), on ex-works basis for May shipments as compared to its prices for April deliveries.
Accordingly, the producer's ex-works prices are at the following levels:
Product | Domestic price | Export price |
HRC 2.0 mm | NTD 24,950-26,100/mt ($827-865/mt) | $650-660/mt FOB Taiwan |
CRC 1.0 mm | NTD 29,700-30,450/mt ($984-1,010/mt) | $760-790/mt FOB Taiwan |
HGI 2.0 mm | NTD 34,000-37,100/mt ($1,127-1,230/mt) | $860-920/mt FOB Taiwan |
CGI 1.0 mm | NTD 36,700-38,150/mt ($1,216-1,265/mt) | - |
On the other hand, with regard to the export markets, CHS' prices for HRC, CRC and HDG products have moved down by $40/mt over the same period. The offers are for May-June shipments.
All the above prices are on actual weight basis. The ex-works domestic prices include five percent VAT and are for payment via standby letter of credit, while the export prices are for payment via at sight letter of credit.
$1 = NTD 30.17