SteelOrbis has learned that, as of May 26, 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 announced reductions for all its domestic flat steel prices, with decreases of NTD 600/mt for hot rolled coil (HRC), NTD 800/mt for cold rolled coil (CRC) and NTD 1,500/mt for hot dip galvanized (HDG), on ex-works basis for June shipments as compared to its prices for May deliveries.
Accordingly, the producer's ex-works prices are at the following levels:
Product | Domestic price | Export price |
HRC 2.0 mm | NTD 24,350-25,500/mt ($807-846/mt) | $600-610/mt FOB Taiwan |
CRC 1.0 mm | NTD 28,900-29,650/mt ($958-983/mt) | $710-740/mt FOB Taiwan |
HGI 2.0 mm | NTD 32,500-35,600/mt ($1,078-1,180/mt) | $810-870/mt FOB Taiwan |
CGI 1.0 mm | NTD 35,200-36,650/mt ($1,167-1,215/mt) | - |
On the other hand, with regard to the export markets, CHS' prices for HRC, CRC and HDG products have moved down by $50/mt over the same period. The offers are for June-July shipments.
All the above prices are on actual weight basis. The ex-works domestic prices include five percent VAT and are for payment via standby letter of credit, while the export prices are for payment via at sight letter of credit.
$1 = NTD 30.16