CSC to Reduce Price by 4% in September

China Steel Corporation announced the firm reduces the steel selling price by average of 4% or 1,020 Taiwan dollars per tonne, which is equivalent to around 3,000 yen per tonne for the domestic users in September. The firm has increased the selling price since March. However, the firm reduces the price considering the construction steel price decline and weakening demand in China. The firm reduces the selling price of hot rolled coil, cold rolled and galvanized steel while leaves the price of plate, bar and wire rod unchanged. The market price in Asia is affected by the price decline in China while Baosteel Group Corporation announced price reduction.

CSC reduces the selling price by 1,800 TWD for hot rolled coil, by 1,200 TWD for cold rolled and electrogalvanized steel and by 2,528 TWD for hot dip galvanized steel while leaves the price unchanged for electric steel.

CSC has increased the selling by average of 5,480 TWD per tonne since March. However, reduces the price for September shipment for the first time since the firm reduced the price of some items including plate in January-February when the demand slightly decreased in Taiwan and the export price declined to China.

On the other hand, CSC announced the firm plans to increase the hot rolled and pickling steel export price by 5,000 yen for the shipment in July-September to Japan due to the raw material cost increase.