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Taiwanese CSC cuts prices for steel products in connection with the reduction of demand

Asia / Ferrous metallurgy

In February, CSC said it expects that flash COVID-19 will have little impact on the overall steel market in a short period of time, based on the impact of SARS on the industry in 2003.

Taiwanese CSC cuts prices for steel products in connection with the reduction of demand

the Company China Steel Corporation (CSC), the largest steel producer in Taiwan with headquarters in Kaohsiung, southern Taiwan, has decided to reduce the domestic prices of its main steel products for sale in may, as it is expected that the demand from the users of steel will depend on the distribution of COVIS-19 worldwide, confirmed company spokesman on Friday.

As reported by Mysteel Global at the Taiwan plant, it was decided monthly change in the price of steel from April to quickly reflect changes in the world market. Among the estimated monthly production rates for hot rolled coils, cold rolled coil and galvanized hot roll reduced by TWD 300 (approximately USD 10) per ton.

In February, China Steel said it will raise domestic steel prices in the next quarter on average by 1.9 percent due to the increase in the cost of raw materials due to growing demand amid improving economic prospects.

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