China Steel to increase production

China Steel to increase production

Taiwan's largest steelmaker, China Steel Corp, is considering upping its cold-rolled steel production capacity by 75% to meet demand from makers of automobile and electronics. The company also indicated that their average prices would rise a negligible 0.5% at the beginning of the third quarter. The overall decline of steel prices in Chinese markets led China Steel to consider keeping its prices stable. The decision of the company came following Baosteel's announcement that it would maintain its prices for the third quarter.