4/23/2012 12:02:00 AM
NEWS BRIEFS
Taiwan’s China Steel Corp. Keeps Prices Unchanged for June
Lukewarm demand and possible glut from steel producers in China put pressure on markets. Lukewarm demand prompted Taiwan’s China Steel Corp. to keep domestic contract steel prices for June unchanged, the Taipei Times reports.
CSC said June prices for all types of products would remain the same as those in April and May, citing the need to help its domestic customers maintain their international competitiveness, according to the Times.
The company said that a production increase in China could cap the recent rebound in global steel prices.
”There are still uncertainties hanging over the global economy and the steel market needs more support for a healthy demand,” CSC stated.
The steelmaker pointed to its counterparts in the U.S. and Europe who have decided to keep prices flat this quarter, “while its peers in China are suffering from oversupply in the face of slowing demand.”
The announcement follows news earlier this month that CSC filed dumping charges with the Ministry of Economic Affairs (MOEA) against other Asian steelmakers, including BaoSteel of China, JFE and Nippon Steel of Japan, and Pohang Steel Co. of South Korea. ©2012 GlobalFastenerNews.com
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