Carbon Steel Price Update March 2010

10. Mar. 2010

China Steel Corp. to raise HRC leeway price

Taiwan’s China Steel Corp. (CSC) will release its leeway resources soon and it is estimated that CSC would lift the HRC price by NT$600/ton. Currently, CSC is studying the operation of Leeway and calculating the quantity of HRC, CRC and GI products. With the increasing raw material cost on the international market, how much CSC’s leeway will increase on price still remained as an open question. Market participants said that HRC from CSC’s Leeway would probably go up by NT$600/ton due to tight supply.

Taiwan’s CRC prices shoot up

The transaction of CRC seemed active while the transaction of HRC remained quiet on the Taiwan market. Last week, because of the shortage of CRC and estimation that Chung Hung Steel (CSC) would lift the price dramatically, buyers booked the order for CRC one after another. CSC is expected to lift the HRC and CRC price by NT$600/ton and NT$800/ton respectively for April and May on 24th February. Traders said that because of the decreasing output of cold rolled sheet from China, the offer from China is also shooting up.
[Yieh news]