China Steel Corp announced that it would keep steel prices unchanged for most products for domestic deliveries in the fourth quarter and would increase prices moderately on two products to reflect improved market conditions. The company would increase the price of electrical sheets by NTD 255 per tonne and electro-galvanized sheets by NTD 173 per tonne. The decision reflected operating challenges faced by steel mills around the world as well as domestic downstream industries, especially continued high costs for raw materials such as iron ore.
CSC said that “Considering the market conditions and operating situations of downstream industries, CSC had been absorbing the increased costs to relieve pressure on downstream customers. However, the ability of major steel mills to maintain cost absorption has reached its limit and the fourth quarter is the traditional peak season, so major mills in the US, Japan, China and South Korea have announced price increases. It is expected that steel prices and transaction volumes in the fourth quarter should improve.”
Source of information