SteelOrbis has learned that as of today, July 23, Chung Hung Steel Co. Ltd. (CHS), a major HRC/CRC re-roller and subsidiary of China Steel Corp. in Taiwan, has decided to cut its ex-works prices for August shipment, due to the weakening downstream demand in Taiwan. Accordingly, the producer's prices are at the following levels:
Product |
Domestic price |
HRC 2.0 mm |
NTD 19,850-20,900/mt ($619-651/mt) |
CRC 1.0 mm |
NTD 24,750-25,250/mt ($771-787/mt) |
HGI 2.0 mm |
NTD 23,200-23,800/mt ($723-742/mt) |
CGI 1.0 mm |
NTD 24,200-24,800/mt ($754-773/mt) |
HRC prices have decreased by NTD 1,000/mt ($31/mt) and CRC prices have decreased by NTD 1,500/mt ($47/mt), while galvanized product prices have declined by NTD 2,000/mt ($62/mt). All the above prices include five percent VAT, are on actual weight basis and for payment via standby letter of credit.
$1 = NTD 32.092