Taiwanese steel maker China Steel Corp announced that it would raise prices for domestic deliveries by 1.32% in October and for October-December 2021 quarter to reflect higher manufacturing costs and rising steel demand. China Steel Corp said “Even though the steel demand might be dragged down by the pandemic in South East Asia and the disturbance of global logistic, as steel industry entering traditional peak season, momentum from downstream industries is expected to remain strong. After evaluating the market trend, production cost and most of all, the competitiveness and benefits of our downstream customers, CSC hereby announces to raise the prices by 1.32% in average for fourth-quarter shipment products of domestic sales in 2021.”CSC added “As global economy remains strong, global GDP growth rate is projected at 5.4-6.0% this year. Benefiting from large scale of infrastructure plans launched by the US, China, EU and India governments, steel demand is also in prosper perspective. In Taiwan, International Commercial Port Future Development and Construction Plan approved by Executive Yuan is estimated to bring in NTD 320 billion worth of investment from both public and private sectors. Economic performance gets strengthened from the stable recovery of global economy. Taiwan’s Executive Yuan will launch a new COVID-19 relief package in October, which is expected to boost domestic consumption. The government raises the GDP growth rate forecast to 5.88% in 2021, reaching a record high since 2010. Having said that, IMF also warns the economy might show uneven recovery in different countries given that COVID-19 is still threatening global economy.”October 2021 Hike HR - NilCR - NilGI - NilES – NTD 500 per tonneOctober-December 2021 HikePlate – NTD 1500 per tonneBar & Wire Rod – NTD 0-1000 per tonneHR – NTD 1500 per tonneCR – NTD 1500 per tonneEG – NTD 1500 per tonneGI – NTD 1500 per tonneAutomotive usage – NTD 1500 per tonne
Taiwanese steel maker China Steel Corp announced that it would raise prices for domestic deliveries by 1.32% in October and for October-December 2021 quarter to reflect higher manufacturing costs and rising steel demand. China Steel Corp said “Even though the steel demand might be dragged down by the pandemic in South East Asia and the disturbance of global logistic, as steel industry entering traditional peak season, momentum from downstream industries is expected to remain strong. After evaluating the market trend, production cost and most of all, the competitiveness and benefits of our downstream customers, CSC hereby announces to raise the prices by 1.32% in average for fourth-quarter shipment products of domestic sales in 2021.”CSC added “As global economy remains strong, global GDP growth rate is projected at 5.4-6.0% this year. Benefiting from large scale of infrastructure plans launched by the US, China, EU and India governments, steel demand is also in prosper perspective. In Taiwan, International Commercial Port Future Development and Construction Plan approved by Executive Yuan is estimated to bring in NTD 320 billion worth of investment from both public and private sectors. Economic performance gets strengthened from the stable recovery of global economy. Taiwan’s Executive Yuan will launch a new COVID-19 relief package in October, which is expected to boost domestic consumption. The government raises the GDP growth rate forecast to 5.88% in 2021, reaching a record high since 2010. Having said that, IMF also warns the economy might show uneven recovery in different countries given that COVID-19 is still threatening global economy.”October 2021 Hike HR - NilCR - NilGI - NilES – NTD 500 per tonneOctober-December 2021 HikePlate – NTD 1500 per tonneBar & Wire Rod – NTD 0-1000 per tonneHR – NTD 1500 per tonneCR – NTD 1500 per tonneEG – NTD 1500 per tonneGI – NTD 1500 per tonneAutomotive usage – NTD 1500 per tonne
