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Taiwan CSC May Increase Its Domestic Sales Prices for Q2 2021
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2021-03-08
Taiwan’s China Steel Corp. is expected to announce its domestic sales prices of relevant steel products for April and the 2nd quarter of 2021, which, according to many market insiders, may appear a significant increase. The price of hot rolled products is expected to increase by around NTD 500-700 per ton, while the prices of steel plates, wire rod, galvanized steel rolls, and automotive materials are also expected to increase by around NTD 2,000-3,000 per ton due to their current underestimated prices.
According to the analysis of a legal person, due to the substantial increase in the international iron ore price (reaching a new 10-year high and landing at USD 176 per ton), the scheduled closure of one of the furnaces of Japan’s 2nd largest steel plant, the requirement of Ministry of Industry and Information Technology of China to restrict the domestic steel capacity in 2021 to be below the 2020’s level and the increasing import of steel billets, the momentum for the prices of steel products to grow is still strong. In addition, the price of hot rolled products in the U.S. also climbed to a new high to USD 1,400 per ton and the prices of steel products from Formosa Ha Tinh Steel Corporation in Vietnam for May are also expected to grow.
Considering so many external factors and the urgent demand for steel products in the global market, a steel plant director said, “the prices for April and the 2nd quarter of 2021 may have left no margin for further decline.”
If Taiwan’s CSC does really adjust its domestic sales prices upward for the 2nd quarter of 2021, it is expected that the downstream steel products suppliers such as Chun Yu, China Steel Structure, Chung Hung Steel, Mayer Steel Pipe, Yieh Phui Enterprise, Sheng Yu Steel, Hsin Kuang Steel, and many other steel plants will also follow suit to adjust their prices upward, which will also infuse extra momentum into their operation in Q2 2021.
According to the analysis of a legal person, due to the substantial increase in the international iron ore price (reaching a new 10-year high and landing at USD 176 per ton), the scheduled closure of one of the furnaces of Japan’s 2nd largest steel plant, the requirement of Ministry of Industry and Information Technology of China to restrict the domestic steel capacity in 2021 to be below the 2020’s level and the increasing import of steel billets, the momentum for the prices of steel products to grow is still strong. In addition, the price of hot rolled products in the U.S. also climbed to a new high to USD 1,400 per ton and the prices of steel products from Formosa Ha Tinh Steel Corporation in Vietnam for May are also expected to grow.
Considering so many external factors and the urgent demand for steel products in the global market, a steel plant director said, “the prices for April and the 2nd quarter of 2021 may have left no margin for further decline.”
If Taiwan’s CSC does really adjust its domestic sales prices upward for the 2nd quarter of 2021, it is expected that the downstream steel products suppliers such as Chun Yu, China Steel Structure, Chung Hung Steel, Mayer Steel Pipe, Yieh Phui Enterprise, Sheng Yu Steel, Hsin Kuang Steel, and many other steel plants will also follow suit to adjust their prices upward, which will also infuse extra momentum into their operation in Q2 2021.
Taiwan CSC
steel price adjustment
Q2 2021
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