China Steel Corporation held the domestic pricing meeting for 2013 January and February shipments and announced the following statement:
European Central Bank tries to ease the impact of European sovereign debt crisis by implementing "easy money policy". On the other hand, US governments try every possible way to deal with the fiscal cliff problem and the economy stretch steady recently. Besides, China had gone through a major transition names the "Fifth Generation" of leaders, this also help the investment and consumption go up. Due to the influence by the unsettled world economy, many research institutions had downwardly revised Taiwan's GDP projection of 2012 for several times. However, with the boost of export in October, DGBAS predicts the following situation will become better.
Accompanies by the rise of the scrap prices and the stability of the iron ore prices, steel prices seem to have reached the bottom. A bounce out indication appears. To strengthen the export competitiveness of downstream industries and encourage buyers' confidence, CSC has decided to reduce prices of PLATE/GI and raise prices of HRC/CRC products for delivery in 2013 January and February by an average margin of 0.39%.
