China’s Baosteel Raises Steel Price for 2018 January

China’s Baosteel has announced the domestic price for 2018 January, including hot-rolled, cold-rolled, heavy plate, and other major products, up RMB 80-120 per ton, of which hot-rolled products rise to RMB 120, an increase of 2.03%.

China’s steel market is expected to go upward due to the inventory replenishment prior to peak season, which will also boost the performance of Taiwan’s steel market. For upstream steel manufacturers, Taiwan CSC (2002), Chung Hung (2014), Yieh Phui (2023) are projected to grow. As for downstream fastener manufacturers, San Shing (5007), Sheh Kai (2063) will be optimistic thanks to the steady growth of fastener demand. San Shing, in particular, generated net sales in November of NTD 658 million, an increase pf 13.93%. The peak season will continue to drive revenue growth.