Taiwan’s Chung Hung raises domestic & export offers for Oct
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Update time : 2023-09-22 17:04:36
Chung Hung Steel Corporation (CHSC), a Taiwan-based carbon steel producer under China Steel Corporation (CSC), raised its domestic price of hot-rolled steel, cold-rolled steel, and galvanized steel by NT$500/ton for October. The export price was hiked depending on products and regions, and the actual quotation will be based on the local market conditions.
Chung Hung said that the recent iron ore prices have surged due to steel mills’ stock replenishment demand and coal prices have risen due to strong demand in India. Besides, major steel mills in Asia continued to hike their prices, which supported steel prices. Therefore, Chung Hung raised its prices to be in line with the recovering market.
In addition, China’s infrastructure construction is now in the peak season, which will boost the downstream demand for steel. Also, central banks in various countries are gradually easing monetary policy, so the global economy is expected to recover moderately.
