As of today, November 26, China Steel Corporation (CSC) the largest and only integrated steel mill in Taiwan, has announced its domestic flats prices for the first quarter of 2009. The new prices are at the following levels:
Product |
Price |
HRC 2.00-4.50 mm |
NTD 19,650-20,150/mt ($589-604/mt) |
CRC 0.30-1.50 mm |
NTD 22,360-22,860/mt ($670-685/mt) |
HRP 6.00-16.00 mm |
NTD 28,920-29,420/mt ($867-882/mt) |
ES 0.35-0.50 mm |
NTD 25,710-26,210/mt ($771-786/mt) |
CGI 0.50-1.20 mm |
NTD 27,270-27,770/mt ($818-833/mt) |
EGC 0.60-1.20 mm |
NTD 25,850-26,350/mt ($776-791/mt) |
All the above prices exclude VAT and are on actual weight and ex-works basis.
In line with the weakening situation in the global and local markets, CSC has decided to sharply cut its Q1 prices by about 22.56 percent on average - the largest decrease in the producer's history. CSC has also announced that it will apply a rebate on almost all prices, of about 70-80 percent, in order to compensate for the losses suffered by many customers in Q4 2008. Thus, compared to the Q4 2008 base prices, the HRC domestic price has been cut by NTD 7,840/mt ($235/mt), the CRC price drops down by NTD 7,510/mt ($225/mt), HRP is down by NTD 4,550/mt ($137/mt), while ES and EGC prices have decreased by NTD 8,000/mt ($240/mt) and the price of CGI has declined by NTD 7,680/mt ($230/mt).
$1 = NTD 33.3453