CSC Price not as Low as Expected, Fastener Industry Makes a Protest

2012-07-30

The wire rod price of Taiwan China Steel Corp. (CSC) for September was lowered by NTD1,300/ ton. However, the fastener industry indicated that in comparison with the international market prices, CSC’s wire rod price should be lowered by NTD3,000/ ton this time. The industry even claimed that the price of NTD1,300/ ton lowered in other words means that the price for July and August was lowered less than NTD700/ ton. Previously, when Dragon Steel Corp., a member of CSC Group, had announced that its price for July would be lowered by NTD1,000/ ton, the fastener companies already lowered their quoted price by nearly NTD1,000/ ton to meet customers’ price reduction request. In other words, while fastener companies announced the quoted price was lowered by NTD1,000/ ton, the material cost provided by CSC for July actually only lowered by NTD700/ ton.