SteelOrbis has learned that as of yesterday, October 25, 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 all its flat product ex-works prices for domestic deliveries in November, due to weakening demand. Accordingly, the producer's prices are at the following levels:
Product |
Domestic Price |
Export Price |
HRC 2.0 mm |
NTD 19,600-20,650/mt ($641-675/mt) |
$630-640/mt FOB Taiwan |
CRC 1.0 mm |
NTD 24,000-24,500/mt ($785-801/mt) |
$790-810/mt FOB Taiwan |
HGI 2.0 mm |
NTD 22,300-22,900/mt ($729-749/mt) |
$655-715/mt FOB Taiwan |
CGI 1.0 mm |
NTD 23,700-24,300/mt ($775-794/mt) |
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As for the domestic market, this producer's HRC and CRC prices for November deliveries have decreased by NTD 1,000/mt ($33/mt), while it has dropped its HGI prices by NTD 1,150/mt ($38/mt) and CGI prices by NTD 750/mt ($25/mt). On the other hand, with regard to the export market, CHS' HRC and CRC prices have decreased by $30/mt, and its HGI price has declined by $35/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 30.561