The local HRC market in Taiwan has been supported by the latest news from the main steel producer in the country China Steel Corporation (CSC) about a sharp increase in its prices for May deliveries. Nevertheless, the tradable prices in Taiwan have still been lagging behind the global market, and so exports of flat steel products will remain firm from Taiwan in the near future.
On April 15, CSC has announced an increase in its HR sheet and HR coils prices by NTD 2,000/mt ($71/mt) and NTD 2,500/mt ($88/mt), respectively. “In order to consolidate the competitiveness of downstream industries, CSC always adopts a steady and moderate pricing strategy. However, compared to international steel prices, CSC’s prices are significantly behind… by as much as $100-200 per metric ton,” the company stated, explaining its latest price increase.
The company’s plate prices have been raised by NTD 2,000/mt ($71/mt). Prices for CRC and HDG have increased by NTD 2,300/mt ($81/mt) and NTD 2,500/mt ($88/mt), respectively.
Nevertheless, even after the hike, prices in the local HRC market in Taiwan have remained among the lowest in the Asian region. According to a re-roller from Taiwan, the tradable levels of most producers are still as much as $30/mt below the $900/mt ex-works mark. “We sold at $900-920/mt FOB in the export market. Our local market is very bad,” a local source said.