Taiwanese mill China Steel to limit exports

Taiwanese mill China Steel to limit exports

Largest Taiwanese steel producer China Steel Corp. has decided to try keep the export levels at the present 30% of the total volume and the company officials express that their priority will be supplying the domestic customers as much as they can. Taiwan's biggest exporting market is China, with the vast steel demand and fastest growing economy of last year. According to statistics China, together with Hong Kong buys almost 30% of Taiwanese overseas sales. The rising demand from China pushing up international steel prices helped China Steel to raise prices as well. Thus, the company achieved a record high Q4 profit. As per statement by company officials, the government is considering to reduce its 40% stake in the company. Therefore China Steel is reported to be looking for long term strategic management investors.