TAIPEI–China Steel Corp. said April 19 it will cut domestic prices for the first time in six months, citing excess supply and sluggish demand.
Taiwan’s largest steel producer by revenue is cutting prices for June by an average of 2.08%,or NT$442 (US$14.84) per tonne compared with April-May, China Steel said in a statement.
The price cuts ended three consecutive periods of increases. Prices were raised by 0.39 percent for January and February shipments, 3.08 percent for March shipments, and 3.81 percent for April and May shipments.
China Steel said its decision is in line with recent price-cuts by global steelmakers.(…)
