Before Taiwan’s China Steel Corporation (CSC) releases a new list price for May delivery, market participants generally expect a price hike. Meanwhile, South Korean hot-rolled coil (HRC) prices are offered upward.
Besides, news spreading that an extra freight US$8/ton will be added for March HRC orders, and some orders for pickled and oiled coils will be delivered with a negative quantity tolerance of up to 20%. The price increase in the Taiwan market is significant.
The import supply facing delivery delays, extra charges after the order is signed, and quantity dwindling give CSC and market players more grounds to bring up the price further, although the purchase is hesitant due to the soaring price.