China Steel Corp. (CSC), the largest carbon steelmaker in Taiwan is going to release its list prices for July and August.
Industry sources predicted that CSC would cut its list prices for steel wires and bars for July and August due to lower raw material prices, dropped steel prices in Chinese market and Taiwanese screw makers’ bad performance in export markets.
It’s known that the prices of raw materials such as iron ore and scraps have dropped recently. The spot iron ore prices have decreased by US$15/ton to US$130/ton.
Meanwhile, the steel prices in the Chinese market have stayed in downward trend after the Chinese New Year in February.
In addition, the Taiwanese screw makers have received less and less orders from overseas markets.
Affected by these factors, industry sources predicted that CSC might cut its list prices for steel wires and bars by at least NT$1,000/ton for July and August.
