8/28/2012 12:40:00 AM
NEWS BRIEFS
China Steel Corp. Price Cuts Continue
Taiwan’s China Steel Corp. cut the list prices for its steel products by an average of NT$1,142/ton for October and November on slackening demand and general global uncertainty, Yieh Corp. reports.
Steel plate fell to NT$1,157/ton; steel wire and bar declined to NT$1,800/ton; hot rolled steel products dropped to NT$806/ton; cold rolled steel products dipped to NT$959/ton; electrical galvanized steel products is at NT$800/ton; electrical steel coils is down to NT$1,050/ton; and hot dipped galvanized steel products decreased to NT$1,216/ton, according to Yieh Corp.
CSC had already reduced its September list prices by 5%.
The cuts follow news of steel price increases in the U.S.
Soaring scrap price drove U.S. steelmakers, including Nucor, to increase wire rod prices by US$80 per short ton for September 2012. ©2012 GlobalFastenerNews.com
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