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CSC Hikes November Steel Prices by 5%

Steel News - Published on Wed, 14 Oct 2020

Image Source: China Steel Corp
Taiwanese steel giant China Steel Corp has raised domestic steel prices by an average 5.02 percent for delivery in November and said it expects price hikes to extend into December amid increasing demand, matching an uptrend in global steel prices. The price of hot-rolled plate is to rise by NTD 1,100 per tonne, while that of hot-rolled and cold-rolled steel are to both rise by NTD 1,200 per tonne. CSC executive vice president and spokesman Hwang Chien-chih said the pricing committee decided to hike prices, as recovering economies in the US and Europe helped boost demand as reflected in a rebound in the purchasing managers’ index, among other factors such as changes in material prices.

The price adjustments also factor in the effects of a strong New Taiwan dollar against the US dollar, the company said.

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Posted By : Yogender Pancholi on Wed, 14 Oct 2020
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