Recently, the transaction prices of China Steel Corporation's Al killed wire rod have turned weak again as market participants forecasted that CSC would cut the September list prices of steel wires and bars.

Market participants have seen CSC's September 2012 list prices of steel wire and bar would drop after CSC announced to cut its list prices of Al killed wire rod by TWD 1,000 per tonne.

Previously, the transaction prices of CSC's Al killed wire rod with large diameters have fallen to TWD 26,300 per tonne and that with small diameters have dipped to TWD 25,500 to TWD 25,700 per tonne in the Taiwanese market.

Moreover, it dropped further by TWD 200 to TWD 300 per tonne currently.

At present, the transaction prices of CSC's Al killed wire rod with large and small diameters have decreased to TWD 26,000 per tonne and TWD 25,500 per tonne respectively.

For the prospect, industry sources indicated that the transaction prices of CSC's Al killed wire rod may drop further by TWD 500 per tonne if CSC cut its September list prices for steel wires and bars by TWD 1,000 per tonne.

Source - www.yieh.com)

(www.steelguru.com)