Chung Hung Steel, one of the major carbon steel flat product manufacturers in Taiwan is expected to raise its prices for next January, supported by higher demand from Southeast Asia, Europe and the US and Chinese steel mills’ increased list prices for next January.
The major steelmakers in China including Baosteel, Angang, Shagang and Shougang have all announced to raise steel prices by an average of RMB50/ton for next January.
In addition, the US steelmakers hiked the steel flats prices for consecutive three times. The CIS steelmakers’ new offer price to Asia increased by US$5~US$10/ton.
Supported by these factors, the global steel market is expected to rebound in the first quarter of this year.
Therefore, it’s predicted that Chung Hung Steel might hike domestic steel flats prices by NT$300~NT$500/ton.
