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Taiwan Spreads Waves of Raising Wire Rod and Coil Prices Again

2011-01-07

Due to the increasing demands of wire rod and coil, Taiwan dispersed that manufactories of steel wire rod and coil would stop selling since the end of 2010. Quintain Steel Co., LTD and Yieh Hsing Enterprise Co., Ltd raise price by NT$500 in January, while TYCOONS mounts price by NT$1,000. Steel manufactories say that the current orders in January are stuffed since steel price rises slowly, coupled with the intended price rising by NT$1,000 in March of Taiwan CSC’s wire rod at the opening, it may show another wave of price rising in the middle of January. As raw materials prices rising drives an overall hiking in steel prices, under the potential expectations of sequential rising in steel prices, the down stream covering inventory increase results in consumption gradual booming. In addition, the European and American market recovering brings more Taiwan’s goods deliveries, making an indirect subsequence on snatching materials of wire rod and coil. This wave of steel price is forecasted to be more optimistic in 2011 Q1 and Q2.