China Steel Corporation's nominal closing price of January and February, 2013
On November 22th, 2012, China Steel Corporation held a meeting over January and February, 2013 steel product price for demestic market. The conclusion is as follws:
Europe Central Bank put out quantitative easing strategy to ease the impact of European Debt due to deteriorating Euro zone growth rate.
The U.S. economy is in the state of steady expansion; therefore, the government will have a chance to solve fiscal cliff before the end of this year.
The result of regime transition after China and Big Eighteen is confirmed, and investment as well as consumption continue to rise. Due to the main endangering factor of national economy fading out, along with central banks in other countries putting out quantitative easing strategy, a ray of light is foreseeable for the global economy. Although Taiwan is influenced by global economic situation and keeps lowering its GDP, its October foreign purchase order is growing with global economic and political condition turning good. DGBAS (Taiwan) predicts that its growth will probably escalate slowly, and that the GDP next year is ecpected to return to the track of 3.09% growth.
With the huge price rise of international scrap steel and the steadiness of iron sand price, global steel price is apparently on the track of bottom out. The launch rate of factories in America and Europe is low. Low stock and rising cost bring about steady steel price. China infrastructure plans stimulates steel demands, and the price of main steel brands is lifted, provoking the trend of rising circulation price.
With the rebounce of international steel price, in order to enhance market confidence and downstream companies' international competition power to bring about demands for steel market, steel plates price is lowered by 500NT in responce to the increase of low-price imports from Japan and India. In addition, automobile material price is lowered by 800NT for increasing domestic production rate and expanding foreign market, with prices of rod/wire, electroplated zinc and electro-magnetic steel rolls remaining flat, and domestic price of other steel products tuned up by around 300NT (up 82NT/ton in average).
Besides, in responce to Japan and India's unfair steel plate dumping towards Taiwan at a low price, which already caused damage to the industry, China Steel Corporation decided to file a anti-dump petition to the government at a proper time, in the meantime coalizing with steeal organizations of other countries to protest the act of dumping in order to protect Taiwan steel industry and a healthy market environment.
