Major Taiwanese steel producer China Steel Corporation (CSC) has announced a further local flat steel prices increase for August as raw material prices have increased and the outlook for demand in the second half remains positive.
The hot rolled coil (HRC), cold rolled coil (CRC) and hot dip galvanized coil (HDG) prices of CSC for August have increased by NTD 900/mt ($30/mt) after the NTD 450/mt hike in the previous month. Its ECS prices have increased by NTD 1,000/mt ($34/mt), while its plate prices have gained NTD 1,200/mt ($40/mt), the company said in its statement. On average prices have increased by 3.7 percent.
After the recent increase in iron ore and scrap prices, an increase in steel prices was necessary, sources said. Moverover, “the major downstream industries, such as automotive and real estate, are gradually regaining growth momentum, which will help the subsequent development of the steel market in Taiwan,” the company said.