China Steel Corp (CSC), yesterday said it would lower domestic prices for January and February contracts after rising uncertainty in the global economy slowed demand for steel and triggered price cuts worldwide.
Steel prices will fall by an average of 7.08 percent, or NT$1,756 (US$57.68) per tonne, compared with next month’s levels, the Greater Kaohsiung-based company said in a statement.
Because CSC offers domestic customers “retroactive rebates” on previous-period purchases if the company announces price cuts for the succeeding period, its domestic customers will receive discounts on next month’s purchases. […]
