12/18/2012 12:07:00 AM
NEWS BRIEFS
Asian Steel Market Sees Signs of Recovery
China Steel Corp.,the largest steelmaker in Taiwan, indicated that its allocation of cold rolled and hot rolled steel products has been overbooked in the first quarter of 2013, Yieh Corp. reports.
The overbooked allocation is an indication that the steel market might recover in 2013, according to Yieh Corp.
CSC’s announcement was good news for other Taiwanese steelmakers, including Chung Hung Steel, Yieh Phui, Sysco, Hsin Kwung Steel and Mayer Steel, which may see sales increase to accommodate demand.
In November CSC announced price increased starting in 2013, prompted by stable raw materials prices and rising global steel prices.
For January and February, CSC increased list prices for hot rolled steel by NT$281/ton and cold rolled steel by NT$56/ton.
CSC cut the list prices for steel plates by NT$217 and hot dipped galvanized steel products by NT$175/ton, according to Yieh Corp.
Chung Hung Steel and other steel mills also hiked prices, following the lead of steel mills in China, such as Baosteel, Wuhan Iron and Steel Corp. (Wisco) and Ansteel, which increased prices for December.
The hikes could hurt Taiwan’s fastener industry, which is expected to cap the year with anemic output.
The Metal Industries Research & Development Centre (MIRDC) predict Taiwan’s fastener output will decline to NT$30.5 billion in the third quarter and that exports will amount to only NT$28.5 billion, according to CENS.com.
“For the year as a whole, the MIRDC forecasts the industry’s output value at NT$121.5 billion, down 4% from 2011, with exports and imports falling to NT$113 billion and NT$4.2 billion, respectively,” writes Steve Chuang of CENS.com.
Taiwan’s fastener exports grew 5% to a value of NT$31.5 billion in the second quarter of 2012.
FIrst-half output inched up 1% to NT$61.5 billion. Exports totaled NT$57.2 billion, with the top importers including the U.S. (37%), Germany (9%), Japan (6%), the Netherlands (5%) and the UK (4%). Exports to Japan enjoyed the highest average unit price of NT$97.4 per kilogram, according to the MIRDC report.
Taiwan’s fastener imports rose 7% to NT$2.2 billion in the first half, with domestic demand growing 3% to NT$6.5 billion. ©2012 GlobalFastenerNews.com
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