CHS cuts flat steel prices for December, raises export offers

SteelOrbis has learned that, as of November 23, Chung Hung Steel Co. Ltd. (CHS), a major Taiwan-based HRC/CRC re-roller and subsidiary of Taiwanese integrated steelmaker China Steel Corp. (CSC), has decided to increase its flat steel ex-works prices for domestic deliveries for December. Accordingly, the producer's new prices are at the following levels:
  

Product	Domestic Price	Export Price
HRC 2.0 mm	NTD 18,800-19,750/mt ($645-678/mt)	$630-635/mt FOB Taiwan
CRC 1.0 mm	NTD 22,400-23,150/mt ($768-794/mt)	$760-780/mt FOB Taiwan
HGI 2.0 mm	NTD 23,400-24,400/mt ($803-837/mt)	$790-820/mt FOB Taiwan
CGI 1.0 mm	NTD 25,100-25,550/mt ($861-877/mt)	-

As for the domestic market, the producer's HRC prices for December deliveries have increased by NTD 400/mt ($14/mt), while the mill's CRC, HGI and CGI prices have moved up by NTD 500/mt ($17/mt).

On the other hand, with regard to the export markets, CHS' prices for all products have indicated a decrease of $10-20/mt as compared to last month.

All the above prices include five percent VAT and are on actual weight basis. The ex-works domestic prices are for payment via standby letter of credit, while the export prices are for payment via at sight letter of credit.

$1 = NTD 29.15