China Steel Corp., Taiwan’s largest producer, will increase domestic prices for the first time in three months after demand climbed.
Prices will rise an average of 2.9 percent for March contracts, the Kaohsiung-based company said today in a statement. The mill announced in October increases in some prices charged to Taiwan customers for December.
Taiwan’s output of base metals advanced 29 percent in the 11 months to November because of demand from users including construction companies, automakers and shipbuilders, the Ministry of Economic Affairs said Dec. 23. Price increases will help the mill cover rising costs.
“Demand has improved,” said Michael Chung, a Taipei-based analyst at Capital Securities Corp., who has a “buy” rating on the stock. “Steel prices should be climbing in the first half.”
Prices of hot-rolled coil, a benchmark product, will increase by an average NT$973 ($33.5) a metric ton, the Taiwanese company said in the statement…
Source : Chinafastener.info – Read the full Article via China Steel to Increase Prices After Demand Climbs.