TAIPEI–China Steel Corp. will cut domestic prices for the July-August period by an average of 4.66% compared with June as steelmakers struggle with falling prices and poor demand, said Taiwan’s largest steel producer by revenue on May 30.
The local price cuts are in line with current global steel prices and could help to boost competitiveness of China Steel’s downstream clients, the company said in a statement.
China’s Baosteel recently slashed domestic prices for austenitic stainless steel, while some Brazilian mills have cut down exports due to weak pricing, sluggish demand and lower feedstock costs. (…)
