China Steel Corp. Raises Fourth Quarter Prices

Jason Sandefur

China Steel Corp. of Taiwan raised domestic steel prices by an average of 3% during the fourth quarter of 2003. The hike is the seventh quarterly price increase in a row, according to Dow Jones International News. Wire rod prices will increase to $8.31 per metric ton. China Steel said the boost was due to increased demand following the SARS outbreak and a general supply shortage in Asia. As Taiwan�s only integrated steel mill, China Steel�s price structure influences steel prices throughout Taiwan. Nearly 80% of its output is sold to local manufacturers. \ �2003 FastenerNews.com