Taiwan’s largest steel maker, China Steel Corporation, announced across grade increases in domestic prices for the second quarter 2017 averaging 6.9%. Rod and Bar prices will increase by TWD 1200/tonne – around 37 euros.
Reviewing positive global economic conditions CSC noted new US government policies including fiscal expansion and infrastructure reconstruction, expected to stimulate domestic demand and motivate economic growth momentum. Quantitative easing monetary policy has made Eurozone economic growth better than expected and Japan saw moderate recovery in economic confidence. CSC also referred to steady economic growth in China, due to expanded private investment and fixed capital expenditure. China Steel quoted the IMF’s forecast that 2017 global economic growth would be 3.4%, 0.3% higher than 2016.(…)
