Fastener Shanghai
fastenerfastenerBuyers' Guidefastener
fastenerStandard Searchfastener
fastenerFor Buyersfastener
fastenerFor Suppliersfastener
fastenerTrade Showsfastener
fastenerMy Officefastener
fastenerPost Inquiriesfastener
Home->Fastener News->China Steel Corp says prices to rise in fourth qua...You are the 489111 visitors
Views:1213   |   recommendation:   |   Votes:0   |   Discuss:0
China Steel Corp says prices to rise in fourth quarter

China Steel Corp, Taiwan's largest steelmaker, on Aug 25 said it is raising the prices of steel products for delivery in the fourth quarter by an average of 5.6 percent to reflect soaring raw material costs.

The company said in a statement that it would raise the prices for all products by an average of NT$1,144 (US$37.8) per tonne, with hot-rolled steel items increasing by NT$1,195 per tonne and hot-dipped galvanized steel products climbing by NT$962 per tonne.

Prices for cold-rolled sheets and coils — which are used in the automotive industry — are to increase by NT$1,054 per tonne, and those for steel plates are to be raised by NT$807 per tonne, the statement showed.

Prior to the increase, the steelmaker had lowered prices by an average of 5.28 percent for shipments this quarter in response to fluctuations in major steel markets.


The latest price adjustments came in the wake of sharp increases in global steel prices, partly because of Beijing’s measures to curb excess steel capacity.

US steel prices have surged by more than US$90 per tonne over the past three months and those in China have continued to rally, China Steel said.

Major Chinese steelmakers, including Baoshan Iron & Steel Co and Wuhan Iron and Steel Corp, have announced price hikes of US$97 to US$112 per tonne for hot-rolled items for delivery next month.

“Customer inventory has remained low in China and restocking demand is likely to continue to stimulate steel prices in the fourth quarter,” China Steel vice president Lee Shin-min said by telephone.

To meet rising customer demand worldwide, China Steel’s furnaces have been running at full capacity this quarter, Lee said.

Global steel demand is forecast to grow by 2.5 to 3 percent this year, China Steel said, citing statistics from ArcelorMittal SA, one of the world’s largest steel and mining companies.


From January to last month, China Steel’s sales grew 21.35 percent to NT$196.3 billion from the same period last year, it said in a filing with the Taiwan Stock Exchange.

The nation’s only integrated steelmaker posted a consolidated pre-tax profit of NT$9.81 billion in the first half of the year, up 25 percent year-on-year, which it attributed to higher steel prices.

First-half revenue totaled NT$167.85 billion, up 22 percent from a year earlier, with shipments of 5.37 million tonnes, China Steel said.

Source: Taipei Times

2017/8/28 17:07:00

Previous:    Watermill Group acquires UK-based industrial fastener supplier, Cooper & Turner
        Next:    China official manufacturing PMI is 51.7 for August, above expectations

Recent Related News
Hebei puts cap on steel capacity to fight pollution--2018-09-03
Steel sector makes headway in capacity reduction--2018-07-30
Specter Of Trade War After US tariffs On EU, Mexico, Canada--2018-06-04
China's steel prices recover on rising demand--2018-05-23
Lower steel price weighs upon steel plants Q1 profit--2018-05-03
EU extends anti-dumping duties on Chinese steel ropes, cables--2018-04-23
China's steel industry vows to rise to US challenges--2018-04-09
CSC to hike prices for Q2 deliveries as global steel supplies remain tight--2018-03-22
China's dumping of steel into Canada groundless: Chinese Embassy--2018-03-17
Official: China's steel demand has peaked--2018-02-06
Chinese steel ends Western monopoly--2018-01-26
China releases new steel capacity replacement policy--2018-01-09

Vote for this news?

fastener(Very Good)
fastener(Very Bad)

More Discuss...
Your Name: Anonymous

Enter the code shown:fastener2fastener

Fastener Shanghai

China Fastener Directory
Get it FREE!
Get your CFD at the following shows:

•Vietnam Manufacturing Expo, Aug 8-10, Hanoi, Vietnam

•Fastener Shanghai 2018 - Shanghai Fastener & Tech Show, Sept 26-29, 2018, Shanghai, China

•M-Tech Osaka, Oct 3-5, 2018, Osaka, Japan

Show Room

Offer Product

Latest News
• China will buy 7,690 planes over 20 years, Boeing says

• Taiwan's Fastener Exports Set Record High in H1

Buyers' Guide
Company News

• In Pursuit of Excellence in Quality—ZHEJIANG CHAOBOER HARDWARE CO.,LTD.

• China Worldbest Holding: Embracing Dream, Seeking Growth

The Way to Enter Chinese Market
The Way to Enter Chinese Market