Posted on 22 Nov 2023
The price of steel in Europe and the United States has strengthened since October. It is understood that the export orders of Taiwan's major steel mills in January next year have exceeded expectations.
Traders pointed out that European and American steel mills began to increase hot-rolled ex-factory prices from October, causing local importers to actively purchase in the Asian market.
At the same time, according to traders, Vietnam's Hoa Phat Group and Ha Tinh Steel are also making great gains in the European hot-rolled market. Taiwan's export orders have been suspended. After Taiwan's China Steel Corporation's (CSC) domestic sales price is determined in December, it will raise its export price to Europe again.
In addition, single-rolling mills have also performed well in receiving galvanizing orders. Traders said that most steel mills have almost completed their order target for January next year.
In order to create more profits, export steel mills, including CSC, have adjusted their order-taking strategies. After reaching the order-taking target in the fourth quarter, they began to accept orders at a limited quantity and a limited price.
Source:Yieh
