China Steel to raise local steel prices 3.36%A SIX-YEAR HIGH: The steelmaker said that China has returned to business, boosting demand, while Brazil, the prime iron ore producer, remains hard-hit by the virusBy Angelica Oung / Staff reporterChina Steel Corp (中鋼), Taiwan’s largest steelmaker, yesterday said that it would raise steel prices by an average of 3.36 percent for domestic delivery in response to an uptrend in global steel and iron ore prices — the biggest price hikes in about two years. Domestic steel prices in China have increased by US$40 per tonne, domestic and exported steel prices in Vietnam are to increase by US$45 per tonne and the export price for October delivery in Japan is to become US$550 per tonne, China Steel said in a statement. The logo and name of China Steel Corp are pictured at its Kaohsiung headquarters yesterday. In the fourth quarter, prices for steel plates would increase NT$800 per tonne, while electro-galvanized steel coils would increase NT$1,000 per tonne and steel rods would increase NT$750 per tonne, the company said. China Steel said that it would also increase prices for most steel categories, with hot-rolled steel plates increasing NT$500 per tonne, cold-rolled coils NT700 per tonne and electrical steel NT$1,000 per tonne.

Source: Taipei Times August 21, 2020 15:56 UTC