Chung Hung Steel Corporation (CHSC), a Taiwan-based carbon steel producer under China Steel Corporation (CSC), raised its domestic price of hot-rolled and cold-rolled steel by NT$900/ton, and galvanized steel by NT$1,000/ton for September. 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 China has successively launched controls on crude steel production, and the following output reduction will be expanded further.

In addition, the impact of floods in the northern region has been eased. Steel demand was expected to gradually recover with the start of the reconstruction works and the government’s policy to boost domestic demand.

At present, the price of raw materials remains high, so major steel mills in Asia continue to increase their prices to reflect the cost. Therefore, Chung Hung moderately raised its domestic and foreign sales prices for September.