Major Taiwanese steel producer China Steel Corporation (CSC) has increased its local flat steel prices further for September, following the hikes by major producers in China, Japan and South Korea recently and strong raw material prices. Flat steel price gains have been lower than last month.
The hot rolled coil (HRC), cold rolled coil (CRC), hot dip galvanized coil (HDG) and plate prices of CSC for September delivery have increased by NTD 300/mt ($10/mt) after the $30/mt hike in the previous month. Its electrical steel coil (ESC) prices have increased by NTD 500/mt ($17/mt), the company said in its statement late last week. On average, prices have increased by 1.49 percent.
Prices for flat steel products in Asia have risen for September shipment. Japanese exporters have increased prices by $20/mt, while domestic prices in South Korea have added $25/mt and Chinese demand has been strong, pushing export and import prices up. Moreover, iron ore prices are fluctuating around the record level of $110/mt CFR. However, the limited price increase by CSC of just $10/mt for September is linked to the possible increase of sales of imported products to Taiwan, and the company is trying to save its share in the domestic market.
