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Chung Hung Steel Opens Bid Price in Feb Hot and Cold Rolling Show High Increasing Margins

2011-01-24

Taiwan CSC displays an average increase margin less than 3%, however, Chung Hung Steel, one company of Taiwan CSC group, currently opens domestic bid price in Feb, all types of steel products get a high opening bid price comprehensively. Among all, hot rolled steel coil shows a sharp price rising by NT$1,100, and cold rolled price rises by NT$850-1,050, going beyond market expectations. Nevertheless, the bid price of Chung Hung, comparatively speaking, is still a backward compensatory increasing. The present price of Chung Hung’s hot rolled rises from NT$19,500-20,500/ton to NT$19,600-20,600/ton, equivalent to about US$700 while the international market price is approximately US$740 maximum, the factual transaction price falls between US$720-730.