SteelOrbis has learned that as of yesterday, November 24, Chung Hung Steel Co. Ltd (CHS), a major Taiwan-based HRC/CRC re-roller and subsidiary of Taiwanese integrated steelmaker China Steel Corp., has decided to cut most of its flat steel product ex-works prices for December shipments due to weak demand. Accordingly, the producer's prices are at the following levels:
Product |
Domestic Price |
Export Price |
HRC 2.0 mm |
NTD 19,950-20,650/mt ($655-678/mt) |
$640-650/mt FOB Taiwan |
CRC 1.0 mm |
NTD 23,550-23,700/mt ($773-778/mt) |
$785-805/mt FOB Taiwan |
HGI 2.0 mm |
NTD 23,400-24,300/mt ($768-798/mt) |
$760-800/mt FOB Taiwan |
CGI 1.0 mm |
NTD 25,000-25,100/mt ($821-824/mt) |
- |
As for the domestic market, this producer's HRC prices for December deliveries have decreased by NTD 1,800/mt ($59/mt), while its CRC prices have declined by NTD 2,000/mt ($66/mt) and its CGI prices have fallen by NTD 1,500/mt ($49/mt). On the other hand, with regard to the export market, CHS has reduced its HRC and CRC prices by $80-90/mt.
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 30.452