China Steel Corp (CSC, 中鋼) yesterday said it would raise prices for domestic deliveries by 1.32 percent next month and for next quarter to reflect higher manufacturing costs and rising steel demand.
Strong global economic recovery, a bullish prediction of Taiwan’s GDP growth of 5.4 to 6 percent, and large infrastructure projects in the US, China, Europe and India have set the tone for a strong steel market for the coming seasons, but there is still uncertainty due to the COVID-19 pandemic and logistics issues, the nation’s largest steelmaker said.
“We are heading into the fourth quarter, traditionally the strong quarter for steel demand,” the company said in a statement. “We expect demand to keep surging, but global logistic logjams and the resurgence of COVID-19 in Southeast Asia could affect some downstream demand.”
Photo: Lin Ching-hua, Taipei Times
If there is a disruption in downstream demand, the steelmaker would stagger the release of steel, it said.
“The strength of Taiwanese manufacturing is not in doubt,” it added.
Next month, electro-plated steel roll prices would increase by NT$500 per tonne, the firm said.
For the fourth quarter, prices of high-carbon rods would also rise by NT$500 per tonne, it said.
Prices of steel plates, hot-rolled steel, hot-rolled steel rolls, electroplated steel rolls and automotive steel would increase by NT$1,500 per tonne, while rod material prices would rise by NT$1,000 per tonne, it said.
Due to the implementation of...
Read Full Story: https://www.taipeitimes.com/News/biz/archives/2021/09/16/2003764424
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.