Author: Paul Ploumis20 Apr 2015 Last updated at 03:17:46 GMT
BEIJING (Scrap Monster): Taiwan’s China Steel Corporation (CSC) has announced cut in prices for various products for June shipment.
The company has decided to cut the prices of steel plates for June shipment by NT$1,000~1,500/ton. Post cut, the benchmark price for steel plates will be at around NT$18,700/ton. The price of SS400/A36 will be NT$16,800/ton. Meantime, ship plate prices have been kept unchanged at NT$20,350/ton.
CSC has also announced its decision to lower the wire rod and bar prices by NT$1,000~1,200/ton for June. Post cut, the price of electric furnace (EF) Al-killed steel low carbon wire rod will be NT$18,000/ton. The price of alloy wire rod will be around NT$21,200/ton.
The company also announced cut in prices for rolled coil products on account of weak product demand in domestic and overseas markets. It announced cut of NT$1,500/ton for Hot Rolled Coil (HRC) products. The Cold Rolled Coil (CRC) products will also see a cut of $1,499/ton for June shipments. Post cut, the average base price of HRC will be NT$15,410/ton.
According to market participants, other major players including Feng Hsin and Yieh Hsing too are likely to follow the suit.