One of Taiwan's leading steelmakers, Chung Hung Steel Corp. (CHS) announced that it has maintained its domestic prices for October and reduced its export prices by US$30/ton.
Affected by power regulation measures in China, many steelmakers have limited supplies. Demand is slowing as the epidemic is not over. From the fourth quarter, shipments are expected to decrease slightly compared to the third quarter.
However, the decrease in iron ore prices will cause the slab price to decrease. CHS may not suffer from higher raw material cost in the fourth quarter. Steel supply will remain limited and steel prices will remain high.
According to the PMI production index, the demand in the construction, automobile and white goods sectors will continue to increase at the end of this year. Market participants were consistently optimistic about the future market.
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