China Steel Corporation (CSC), Taiwan's largest carbon steel producer, announced price increases ranging from NTD 700 to NTD 1,200 per ton (about USD 22-37) for November.
Prices for cold rolled coil, electro galvanized steel coil, hot dipped galvanized steel coil, and electric steel coil will increase by 700 NTD (about 22 USD) per ton. The price of hot-rolled plate/coil and hot-dip galvanized steel coil will increase by 900 NTD (about 28 USD) per ton. The most significant increase of NTD 1,200 per ton (about USD 37) applies to hot rolled coil.
CSC explained that the price increases are driven by several factors, including the resilience of the U.S. economy and China’s economic stimulus measures, which have raised market confidence and led to higher raw material costs.
Moreover, the World Steel Association’s (worldsteel) Short Range Outlook (SRO) points to a positive global steel market recovery. Rising costs of key products, such as iron ore and coal, have further increased steel production expenses.
In response, several global steelmakers, including ArcelorMittal, Baowu, Anshan-Benxi Steel, and Formosa Ha Tinh Steel, have also raised their prices, indicating that the global steel market is recovering.
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