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Taiwan CSC Announces Steel Prices for Q1 2022
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2021-12-22
The Directorate General of Budget, Accounting and Statistics (Taiwan) raised the GDP forecast for 2021 to 6.09%, a record high since the last 11 years. Taiwan's manufacturing sector and export continues to gain strength and the export value of the country reached a record-breaking USD 41.58 billion in November 2021. The downstream steel-consuming industries will benefit from the steel demand derived from domestic and overseas large infrastructure projects. Taiwanese steel market will remain upwards, steady and strong in the future. In addition, EU's anti-dumping tax on China's fasteners will bring orders to Taiwanese suppliers.
Baowu Group and Anben Iron & Steel Group from China have announced to keep their January 2022 prices flat, signalling the market prices are stabilizing. Furthermore, China's crude steel production have dropped more than expected. The projected total production for 2021 is around 1.04 billion tons (down about 26 million tons), and it is projected to reduce to 1.04 billion tons. The latest EU carbon price is up over 80 euros, an annual growth of over 150%. Additionally, Tata Steel indicated the future steel prices will be much higher than the last decade due to increased material cost and reduced export from China.
The COVID variant rages again putting the supply chain under pressure. Harbor congestion and shortages of containers will continue in the short term. The domestic clients to Taiwan CSC bear the pressure of limited cash flow and heaping goods that they can't ship out due to logistics barriers. In light of this, Taiwan CSC decided to lower the Q1 2022 prices by an average of 2.15% (NTD 0 to 900 per ton) to increase downstream steel-consuming industries' competitiveness in taking orders and export.
Baowu Group and Anben Iron & Steel Group from China have announced to keep their January 2022 prices flat, signalling the market prices are stabilizing. Furthermore, China's crude steel production have dropped more than expected. The projected total production for 2021 is around 1.04 billion tons (down about 26 million tons), and it is projected to reduce to 1.04 billion tons. The latest EU carbon price is up over 80 euros, an annual growth of over 150%. Additionally, Tata Steel indicated the future steel prices will be much higher than the last decade due to increased material cost and reduced export from China.
The COVID variant rages again putting the supply chain under pressure. Harbor congestion and shortages of containers will continue in the short term. The domestic clients to Taiwan CSC bear the pressure of limited cash flow and heaping goods that they can't ship out due to logistics barriers. In light of this, Taiwan CSC decided to lower the Q1 2022 prices by an average of 2.15% (NTD 0 to 900 per ton) to increase downstream steel-consuming industries' competitiveness in taking orders and export.
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Q1 Product Prices
|
Products
|
Margin of Adjustment (in NTD per ton)
|
|
Automotive Materials
|
-900
|
|
|
Low Carbon Wire Rods
|
-500
|
|
|
Mid & High Carbon Wire Rods
|
-500
|
|
|
Cold-Headed/Low alloy Wire Rods
|
-500
|
taiwan csc
steel prices
q1 2022
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