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Taiwan CSC Prices up by 12.1% for April and May

2011-03-01

Days ago, Taiwan CSC announced its newly adjusted prices for domestic sales of steels in April and May. Prices of 7 categories of steel products were all increased, showing NT$ 2,811 increase per ton on average (+12.1%). This increase was more than the market expectation. The wire rod price fastener companies concern the most was also increased by NT$ 2,500 per ton. In order to respond to the depreciation of NTD and the increasing price of coal and iron ore, price for galvanized steel rolls was increased by NT$3,500 per ton, followed by NT$3,167 for hot dip galvanized steel rolls, which both showed over NT$ 3,000 price increase. As for sheet metal, the price was increased by NT$ 2,949; NT$ 2,945 for hot rolled; NT$ 2,747 for cold rolled; and NT$ 2,000 for electromagnetic steel rolls. Due to the influence of price surge of coal and iron ore in Australia and Brazil, the market had already forecast that Taiwan CSC would definitely increase the price for domestic sales. The originally expected price was set within NT$ 2,000-2,500; however, the increase was over NT$ 2,811, much greater than the expectation.