China Steel Corp employees work in a plant on July 11. Photo: CNAThe Kaohsiung-based company said it took its cue from global peers, which have raised steel prices amid an improving industry outlook. As the prices of iron ore and other commodities continue to hover at high levels, they have lent support to global steel prices, China Steel said. “It is clear that global steel prices have hit the bottom and are ready to rebound,” it said. Responding to improving market conditions, China’s major steelmakers started hiking hot-rolled steel for exports by US$30 per tonne, China Steel said.

Source: Taipei Times December 15, 2022 19:01 UTC