China Steel Corp to hike export prices for next quarter

China Steel Corp to hike export prices for next quarter

According to reports from the industry, Taiwan's leading steel producer, China Steel Corp (CSC) is going to increase its exports prices by around 20% for the second quarter, covering May-July period. The increases in raw material and transportation costs and high prices in international market are aimed to be offset through this hike. Price hike will be applied on exports of cold rolled and hot rolled steel in a range of $100-150/ton with deliveries particularly to Southeast Asia and China. CSC, which sold about 10 million tons of steel in both 2002 and 2003, had previously declared that it will sell abroad only 25% of its total sales so as to meet domestic demand. Company supplies over 50% of steel demand of the domestic market.