Major Taiwanese steel producer China Steel Corporation (CSC) has announced that it will keep local prices for HRC, CRC, plates and long products unchanged for the fourth quarter, while HDG prices will be raised by NTD 173/mt ($5.5/mt) and electrical steel prices by NTD 255/mt ($8/mt). “With the government’s active engagement in pushing up domestic demand through public constructions, the order-transfer effect and the homecoming of Taiwanese companies caused by the US-China trade conflict, Taiwan’s fourth-quarter economic and industrial performances are projected to be further improved,” the company said in the statement.
This is in line with market expectations because CSC has already posted a sharp price drop for the third quarter, by $17-34/mt depending on the product. Moreover, major steel mills in the US, Japan, China and South Korea have announced price increases one after the other, CSC stated, with Nippon steel successfully increasing wholesale steel prices to automakers by JPY 4,000/mt or $37/mt.
