It is reported that Chung Hung Steel, one of the major carbon steelmakers in Taiwan, is going to cut its list prices of hot rolled and cold rolled steel products by TWD 350 per tonne respectively and to decrease the list prices of galvanized steel products by TWD 500 per tonne for July 2012 deliveries, which met the market participants' forecast.

Besides, the firm decided to reduce the export prices by USD 10 to USD 20 per tonne averagely for July 2012 shipment.

Chung Hung Steel stated that it decided to cut the prices for July 2012 as it understood the difficulty that the downstream customers faced. Also, the company expected that the price cut will help its customers to gain orders.

Source - www.yieh.com)

(www.steelguru.com)