4/8/2011 12:01:00 AM
NEWS BRIEFS
Taiwan CSC Hikes Prices for April and May
Taiwan’s China Steel Corp. announced its newly adjusted prices for domestic sales of steels in April and May, Fastener World reports.
Prices of seven categories of steel products were all increased, showing TWD 2,811 (US$96.92) increase per ton on average (+12.1%). This increase was more than the market expectation.
Wire rod prices jumped by TWD 2,500 per ton.
In order to respond to the depreciation of Taiwan’s currency and the increasing price of coal and iron ore, the price for galvanized steel rolls was increased by TWD 3,500 per ton, followed by TWD 3,167 for hot dip galvanized steel rolls.
As for sheet metal, the price was increased by TWD 2,949; TWD 2,945 for hot rolled; TWD 2,747 for cold rolled; and TWD 2,000 for electromagnetic steel rolls.
Due to the influence of price surge of coal and iron ore in Australia and Brazil, the market had already forecast that Taiwan CSC would definitely increase the price for domestic sales.
The originally expected price was set within TWD 2,000-2,500; however, the increase was over TWD 2,811 — much greater than expected. ©2011 GlobalFastenerNews.com
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