12/4/2010 8:46:00 AM
Taiwan’s China Steel Increasing Domestic Wire Rod Production
Taiwan’s China Steel Corporation will increase wire rod supply due to demand for high strength and alloy steel wire to replace imported products.
The furnaces of CSC subsidiary Dragon Steel have begun to operate and are pushing the production capacity 2.5 million tons higher.
The initial furnaces of Dragon Steel can appropriate 50,000 to 100,000 tones of wire production, Fastener World magazine reported. It is calculated that the annual production of wire will reach 0.6-1.2 million tons, which can replace the current wire i
mports and relief the insufficient material supplies in downstream fastener and hand tool industry.
Taiwan CSC raised prices for domestic sales for December. Wire rod, steel sheet, galvanized steel roll and hot dip galvanized steel sheet edged up 0.2%.
In contrast the price of electromagnetic steel sheet short of supplies rose NT$1,000 (US$33) per ton, the price of hot/cold rolled medium-to-high carbon and low alloy products increases NT$500 per ton.
The management of Taiwan CSC said that the consideration of the appreciation of NTD impacting the downstream order receiving and the insufficient power of production cut-down in China due to energy saving and low carbon emission strategy obstruct the increase of prices. Web: csc.com.tw ©2010 GlobalFastenerNews.com
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