According to China Steel, it has raised domestic wholesale prices by NT$ 1,144 (US$37.76) or 5.6 percent per metric ton on average for the October-December period.
August 26, 2017
China Steel Corp., the largest steel maker in Taiwan, has decided to raise domestic wholesale product prices for the fourth quarter of this year after its counterparts in the United States and Europe rode the wave of rising product prices on solid global demand.
According to China Steel, it has raised domestic wholesale prices by NT$ 1,144 (US$37.76) or 5.6 percent per metric ton on average for the October-December period, after a 5.28 percent drop in the third quarter, when a stronger Taiwan dollar made imports cheaper.
Demand for the current quarter turned stronger, reflecting peak season effects and prompting major steel makers worldwide to ask for higher prices, China Steel said. According to a forecast made by France-based steel firm ArcelorMittal, with the global economy recovering steel demand for 2017 is expected to grow 2.5-3.0 percent from a year earlier.
