Taiwan's CHSC maintains domestic prices for Aug, exports for Sep to depend on product & region
Views : 132
Update time : 2024-07-22 15:43:01
Chung Hung Steel Corporation (CHSC), a Taiwan-based carbon steel producer under China Steel Corporation (CSC), maintained its domestic price of hot-rolled steel, cold-rolled steel, and galvanized steel for August, and the export price for delivery in September will be adjusted based on the product and region. The actual quotation will be based on the local market conditions.
Chinese steel mills are cutting production levels. Data from the China Iron and Steel Association (CISA) shows a 4.35% drop in daily crude steel output by major companies in early July compared to June. The Chinese government's policies on energy conservation, carbon reduction, and steel production control are expected to further tighten steel supply in the latter half of the year. Decisions from the Third Plenary Session of China's Central Committee could also influence future economic development, potentially boosting steel demand if domestic consumption policies are sustained.
Chung Hung Steel observes that high temperatures and heavy rainfall are affecting both production and demand. Despite this, the cost of steelmaking remains elevated. Steel mills operating are near break-even. As seasonal conditions improve and with rising expectations for Federal Reserve interest rate cuts, stabilizing the market and adopting measures to improve customer order competitiveness are crucial to keeping current prices steady.
