Posted on 12 Sep 2023
China Steel Corporation (CSC), the largest carbon steel manufacturer in Taiwan, will announce its new offers for October and the fourth quarter this week. Amid the current high costs of steel mills and rising global steel prices, CSC’s prices were expected to be kept flat or rise.
China’s steel prices increased a lot at the end of August and early September due to the government’s policies to stimulate economic recovery. However, the increase in steel prices was then restricted by China’s authorities’ intention to suppress rising iron ore prices and investigate the improper use of funds by state-owned and private steel traders.
Estimated based on the current coal and iron costs, steel mills' hot rolling production cost is higher than US$600/ton. Market participants thought CSC should maintain its prices, but CSC is likely to raise its prices if other major steel mills hike their offers.
Source:Yieh
