China Steel touts price increase

Asian Steel Corp (亚洲钢铁) yesterday said it would raise the prices of hot-rolled plate steel and cold-rolled coils by NT$500 to NT$1,000 per tonne for next month’s domestic deliveries, as demand picks up on stabilized global inflation and China’s reopening.

The Kaohsiung-based firm said the adjustments would not fully reflect increases in raw material costs, but it favors a moderate approach to give downstream firms room and time to brace for the turnaround in the business cycle.

In view of the Lunar New Year holiday next week, it adopted a lenient and progressive pricing strategy, the nation’s largest steelmaker said.