SteelOrbis has learned that as of today, October 27, 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 November shipment, due to the still weakening purchasing activity in the local Taiwanese market. Accordingly, the producer's prices are at the following levels:
Product |
Domestic price |
Export price |
HRC 2.0 mm |
NTD 17,700-17,800/mt ($545-548/mt) |
$515-520/mt FOB Taiwan |
CRC 1.0 mm |
NTD 21,750-22,250/mt ($670-685/mt) |
$625-630/mt FOB Taiwan |
HGI 2.0 mm |
NTD 21,650-21,950/mt ($666-676/mt) |
$650-660/mt FOB Taiwan |
CGI 1.0 mm |
NTD 22,650-22,950/mt ($697-707/mt) |
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HRC and galvanized product prices have decreased by NTD 1,500/mt ($46/mt), while CRC prices have declined by NTD 1,000/mt ($31/mt). All the above prices include five percent VAT and are on actual weight basis. Ex-works domestic prices are for payment via standby letter of credit, while export prices are for payment via at sight letter of credit.
$1 = NTD 32.4770