It’s reported that Chung Hung Steel, one of the major carbon steelmakers in Taiwan announced to cut its export prices for hot rolled coils (HRC) and cold rolled coils (CRC) by US$30~US$40/ton for July shipments, affected by weak steel prices in global market.

After the adjustment, its prices for HRC and CRC are at US$670/ton FOB and US$680/ton FOB respectively.

It’s known that Chung Hung Steel has reduced its domestic prices for HRC and CRC by NT$600/ton respectively to NT$18,300/ton and NT$21,300/ton for July.

The official of Chung Hung Steel said that the firm’s sales volumes totaled 145,317 tons in April. It’s expected that sales would improve in June but might not hit 200,000 tons in June.