The largest steel producer in Taiwan, China Steel Corporation (CSC), will partly sell its stake in Japanese trading company East Asia United Steel, which has supplied Japanese slabs to the manufacturer, according to reports in the local press.
CSC’s stake in East Asia United Steel is 19.36 percent and will be reduced to about 9.68 percent. East Asia United Steel has supplied about 1.8 million mt of slabs to CSC, out of which 1.2 million mt slabs were from Nippon Steel’s Wakayama Steel Works. As a result of the divestment, the purchased volume will decline and CSC will use more slabs of other origins, apart from its own slabs.