It is reported that the transaction prices of H beams have dropped by TWD 600 per tonne to TWD 23,800 per tonne in the Taiwanese market recently even though the major manufacturers have remained the list prices unchanged.

It is known that the transaction prices of scrap, rebar, small sized section steel and steel plates have dropped in the Taiwanese market due to slumped iron ore prices.

The H beam prices have remained firm in spite of the price dip of most steel products. The major manufacturers in Taiwan have kept the list prices of H beam at TWD 25,000 to TWD 26,100 per tonne.

However, it is said that the distributors have cut the list prices of H beam by TWD 600 per tonne last week, making the transaction prices drop to TWD 23,800 per tonne.

Industry sources pointed out that sharply decreased scrap prices over the past two week made the prices of rebar and small sized section steel fall.

Meanwhile, the low-priced imports have made Taiwanese steelmakers face fierce price competition. At present, Japan's export quotes of H beams are at USD 710 per tonne FOB; China's is at USD 600 per tonne FOB.

Affected by these factors, the Taiwanese distributors have cut the list prices to fight against the difficult market situation.

Source - www.yieh.com)

(www.steelguru.com)