CSC to Hike Flat Steel Price by 2,000-3,000 yen/t to Japan

China Steel of Taiwan noticed the export price to Japanese buyers for August-October shipment. The firm increases the price by 2,500 yen per tonne for hot rolled coil without pickling, by 2,000 yen for pickling steel and cold rolled coil, 3,000 yen for hot dip galvanizing steel and by 1,500 yen for plate. The firm reduces the export volume by 10% for hot coil and pickling steel and by 40% for plate compared with May-July shipment. The firm emphasized the price first policy for export market under the balanced Taiwanese market. The firm said the export price to Japan had room to increase compared with export to other offshore market when foreign exchange rate of yen decreases against Taiwanese dollar. The firm reduces the plate export to Japan under tight supply when the firm needs plate to construct the second steel works. The firm also tries to secure additional plate mill capacity preparing for 45-day plate mill maintenance outage in February 2008. The firm reduces the hot and pickling coil export to Japan to secure more volume for new no.2 continuous galvanizing line. The firm expects the inner usage of hot coil will increase when the firm starts no.2 electrical steel making line.