Tel :
Tel :
China Steel Corp (CSC)—Taiwan’s largest steelmaker—stated that, in light of gradually emerging signs of recovery in the global steel market, M105-30P Grain oriented electrical steel, the company has decided to raise domestic sales prices for select products for the upcoming month and quarter.
According to a statement released by CSC, prices for hot-rolled steel, hot-rolled coils, and cold-rolled steel for delivery next month will be raised by NT$300 (approximately US$9.52) per ton, while prices for automotive steel for delivery in the next quarter will be increased by NT$500 per ton.
China Steel points out that the global steel market is undergoing a gradual recovery, which is expected to provide support for steel prices in the short term; notably, U.S. hot-rolled steel prices have already risen, breaching the psychological threshold of $1,000 per ton. M105-30P Grain oriented electrical steel, Concurrently, hot-rolled steel prices in the European Union and Canada are also trending upward at a steady pace ahead of the imminent implementation of a new round of steel import quota policies.
China Steel notes that the European Union plans to cut duty-free steel import quotas by 47%—effective from the second half of next year—and raise tariffs on imports exceeding these quotas to 50%, in an effort to mitigate the impact of global steel oversupply. In the Chinese market, as demand for steel products stabilizes, Baoshan Iron & Steel has raised the price of medium-to-heavy plates scheduled for delivery next month by 100 RMB per ton.
China Steel believes that China's implementation of a new steel export licensing system—effective next month—will, to some extent, curb the outflow of steel and help stabilize steel prices in the Asian region. M105-30P Grain oriented electrical steel, Meanwhile, steelmaking costs continue to rise; global iron ore prices have climbed to between US$105 and US$110 per ton, while coking coal prices have risen to US$215 per ton.
China Steel disclosed that for the first ten months of this year, the company incurred a pre-tax loss of NT$4.99 billion—primarily due to significantly weaker steel prices resulting from sluggish demand—whereas during the same period last year, it had posted a pre-tax profit of NT$3.75 billion.
