China Steel Corp Raises Electrical Steel Prices

China Steel Corp (CSC) announced that it will maintain steel prices for most of its products for domestic supply in the fourth quarter and will moderately raise prices for two products to reflect improved market conditions. The company will increase the price of electrical sheets at NTD 255 per tonne and for galvanized sheets at NTD 173 per tonne. This decision reflects the operational challenges faced by steel mills around the world, as well as domestic refineries, especially the continued high costs of raw materials such as iron ore.

CSC says that “Given the market and downstream conditions, CSC absorbed the increased costs to relieve the pressure on downstream customers. However, the ability of large steel mills to maintain cost absorption has reached its limit and the fourth quarter is the traditional peak season, which is why large mills in the US, Japan, China and South Korea have announced price increases. Steel prices and transaction volumes are expected to improve in the fourth quarter. ”