Taiwan's largest carbon steel producer China Steel Corporation (CSC) will announce its new prices for October this week.
Due to annual maintenance at factories in China, many steelmakers have also reduced their production. As a result, Chinese Baosteel has decided to keep the price stable for October.
Vietnam's Formosa Ha Tinh Steel Corporation (FHS) announced that it has reduced its hot rolled coil (HRC) and wire rod prices by US$35/ton for November delivery.
Vietnam has lots of low-cost supplies from India and Russia. Affected by cheap resources, FHS had to lower the price.
European, US and Asian prices remained stable, according to the market analysis. There are some restrictions on imports in Taiwan. Many downstream customers have high-priced inventories.
Therefore, CSC had no intention of lowering the price. CSC was expected to hold the price for HRC or increase prices slightly by NT$300-500/ton to stabilize the market.
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