China Steel Corp, Taiwan’s only integrated steelmaker, yesterday said it would lower steel prices by 4 percent on average for September shipments in response to fluctuations in global markets.
The price cut, the company’s first this year, would help enhance the competitiveness of downstream companies in the domestic steel industry, China Steel said in a statement.
Prior to the cut, the company had raised prices by 26.6 percent from the beginning of the year.
Based on the adjustment, China Steel is to lower prices of its products by NT$688 per tonne for September contracts, excluding steel plates, it said.(…)
via Taiwan’s CSC lowers steel prices for September shipment.