No change in local steel prices: CSC

China Steel Corp (CSC, 中鋼), Taiwan’s largest steelmaker, yesterday said it would keep domestic steel prices unchanged for deliveries next month for a second consecutive month, buoyed by improving supply chain inventory and rising manufacturing costs.

That could pave the way for a price rebound next month as the Kaohsiung-based steelmaker is seeing more signs that the global steel industry’s downtrend is bottoming out due to a reduction in steel production.

Steel production in Europe is constrained by soaring energy prices and reduced imports of semi-finished products from Russia, leading to a shortage, CSC said in a statement yesterday.