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Taiwan’s China Steel Corporation (CSC) has announced a price reduction of NT$300 (approximately US$10) per tonne for certain steel products sold domestically, effective next month; this move ends a six-month streak of price hikes driven by tight supply.
According to the company's announcement, domestic prices for hot-rolled coils (HRC), hot-rolled plates, and standard cold-rolled plates have all been lowered by NT$300 per tonne. A653 CS type B steel, Meanwhile, prices for products such as electrical steel coils, galvanized coils, and electro-galvanized coils—which are primarily used in the home appliance, computer, and construction industries—will remain unchanged.
CSC stated that the price adjustment aims to align with market trends and safeguard the competitiveness of downstream manufacturing industries.
This price reduction aligns with regional market trends. Major Vietnamese steel makers—Hoa Phat Group and Formosa Ha Tinh Steel—have lowered their steel prices for July by $14–$23 per tonne. A653 CS type B steel, In contrast, China’s Baosteel has kept its July prices stable, while steelmakers in Europe and the United States continue to maintain high price levels.
However, the company also announced price hikes for certain steel products for the upcoming quarter due to rising production costs. Specifically, prices for steel plates, bars, hot-rolled coils, and cold-rolled coils will increase by up to NT$1,000 per tonne, while prices for automotive steel products will rise by NT$500 per tonne.
The company stated that the rise in raw material costs exceeded expectations, necessitating a moderate adjustment to product prices. Currently, iron ore prices remain at approximately $100 per tonne and coking coal prices at around $240 per tonne—both relatively high levels.
Regarding financial performance, the company posted a pre-tax profit of NT$485 million (approximately US$15.37 million) in May, successfully returning to profitability and reversing the unfavorable results seen in the first quarter, A653 CS type B steel, when it recorded a pre-tax loss of NT$967 million and a net loss of NT$2.45 billion.
