Taiwan HRC Steel prices show negative trend in August

TAIWAN September 04 2015 9:06 AM

TAIPEI (Scrap Register): In Taiwan, the negative price tendency, for hot rolled coil, accelerated markedly in August, according to MEPS. Trading activity continued to be muted and import competition remained strong.

Sales of cold rolled coil continued to be lacklustre in the domestic market. Buyers secured further concessions. Meanwhile, galvanised coil demand was tepid. The threat from third country imports remained. During recent settlements, buyers secured substantial discounts.

Taiwanese rebar transaction values decreased for the fourth consecutive month. Selling figures came under negative pressure from reduced raw material costs and cheap Chinese billet. In late August, the price of scrap started to climb, which could enable producers to, at least, stem any further downward movement in rebar in the short term. A modest increase may even prove possible.