According to Taiwan's largest steel company CSC (China Steel Corp.), steel prices in Taiwan experienced a serious increase in the first quarter of this year.
Baoshan Iron And Steel has increased its carbon steel and HRC prices by Yuan 200 ($29)/t for the next month.
According to the company's statement, the high price of raw materials such as nickel, coal and cobalt used in steel production was also reflected in production costs. As a result, the firm had to increase its list steel price.
CSC firm has decided to increase its steel prices by 800-2,000 TWD/t ($26-65) from April to July.
For the steel industry, which is expected to increase demand in overseas and local markets, the second quarter of the year is the time with the highest consumption.
According to the statement of the market representative, global steel supply will remain at a narrow level for a short time due to the earthquake in Turkey and the failure to recover the steel production decline in Europe and America.
The listed arm of China Baowu Steel, Baoshan Iron and Steel, announced in April that it added 200 Yuan ($29)/tonne to its carbon steel HRC list price for local sales.
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