South Korean steelmaker POSCO still hasn't fully recovered from September's typhoon strike, adding that local demand remains weak and a truckers' strike has caused losses.
For now, the company has decided to hold the steel plate offer for Taiwan's request.
Market participants said that no bids had been received from POSCO since China Steel Corporation (CSC) opened new list prices in early November.
POSCO is looking to restart from a more transparent perspective due to the current low market sentiment. Along with rising iron ore prices, hot rolled coil prices are rising in China and the US, and they have high hopes that they will soon offer higher export prices to offset some of the drivers' strike losses.
Moreover, POSCO views the steel market outlook for 2023 as negative, predicting that global steel growth could be as low as around 1%.
POSCO Suspends Steel Sheet Supplies to Taiwan
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Azovpromstal® 7 December 2022 г. 11:12 |
