SteelOrbis has learned that as of yesterday, June 22, 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 decrease its ex-works prices for domestic deliveries in July and for export shipments in July and August, due to weak domestic demand and declining steel prices in the East Asia market. Accordingly, the producer's prices are at the following levels:
Product |
Domestic Price |
Export Price |
HRC 2.0 mm |
NTD 20,850-21,900/mt ($650-682/mt) |
$650-660/mt FOB Taiwan |
CRC 1.0 mm |
NTD 26,250-26,750/mt ($818-833/mt) |
$820-840/mt FOB Taiwan |
HGI 2.0 mm |
NTD 25,200-25,800/mt ($785-804/mt) |
$780-800/mt FOB Taiwan |
CGI 1.0 mm |
NTD 26,200-26,800/mt ($816-835/mt) |
- |
As for the domestic market, this producer's HRC prices for July deliveries have decreased by NTD 900/mt ($28/mt), with its CRC, HDG and CGI prices rising by NTD 1,050/mt ($33/mt). On the other hand, with regard to the export market, CHS' prices have decreased by $70-80/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 32.097