The logo of China Steel Corp is pictured at its Kaohsiung headquarters yesterday. The price adjustments match a pricing strategy adopted by Chinese peer Baoshan Iron & Steel Co (寶鋼), which raised its prices for hot-rolled steel for delivery next month by US$61 per tonne, China Steel said in the statement. Formosa Ha Tinh Steel Corp (河靜鋼) in Vietnam is also expected to raise its prices significantly, to reflect higher manufacturing costs and the market uptrend, China Steel said. There have been drastic increases globally in the price of hot-rolled steel — US$1,000 per tonne in the US, US$700 per tonne in Europe and US$650 per tonne in Asia — it said. China Steel has increased the price of hot-rolled steel sheets and hot-rolled steel coils for delivery next quarter by NT$1,500 per tonne.

Source: Taipei Times December 11, 2020 15:56 UTC