Taiwan’s China Steel Corporation (CSC) announced its new prices yesterday (June 16). The company dropped July prices for hot-rolled steel plates, hot-rolled coils, and cold-rolled coils by NT$300, keeping other monthly products flat. Conversely, the third-quarter prices rose by NT$1,000 for bars, wire rods, steel plates, and cold-rolled coil for specific purposes, with automotive materials rising by NT$500.
This decision ended a six-month price increase for monthly hot-rolled coils, but marked the second consecutive quarterly price hike for bars and wire rods. Downstream buyers expressed satisfaction, saying that the modest monthly price reduction protects them from heavy inventory losses.
High coking coal costs pushed quarterly prices up, even as iron ore prices fell and the Taiwan dollar strengthened slightly. Global steel supply shrank recently due to Chinese production cuts, export curbs, and Middle Eastern conflicts.