China Steel Keeps Domestic Flat Steel Price in December

Taiwanese steel maker, China Steel Corporation announced on Tuesday the firm keeps domestic selling price for flat rolled carbon steel in December when market price in China and global market remain weak and export industry in Taiwan is impacted by New Taiwan dollar appreciation. The firm increases the selling price by NT$ 500 for hot-rolled high and medium carbon steel, hot rolled low alloy steel, cold rolled high and medium carbon steel and cold rolled low alloy steel and by NT$ 1,000 for electrical steel due to steady demand.

Despite traditional demand season in October-December, the market price in Asia is impacted by the oversupply and increasing inventory in China. The business condition of export industry in Taiwan remains firm. However, the industry is impacted by NT dollar appreciation. China Steel keeps the domestic selling price excluding some items in December due to slow domestic demand.