Taiwanese steel pipe makers to raise prices for October
Taiwanese steel pipe makers are going to announce the new price policy for October shipments on September 28th.
It’s known that Chung Hung Steel, the major upstream supplier to Taiwanese steel pipe mills is going to release its October list prices on September 27th.
Market participants predicted that predicted that Chung Hung Steel would hike the prices by NT$300~NT$500/ton.
Furthermore, some said that the company would raise the prices by NT$500/ton at least due to continuously rising prices of imported billet caused by depreciated NT dollars.
The currency rate between NT dollar and the US dollar was 30.5: 1 on last Friday, depreciated by 4% in comparison of that in the beginning of September.
Affected by these factors, steel pipe makers indicated that they would raise the October prices for sure to reflect the rising input costs and depreciated NT dollars.
News Date 26 Sep 2011 10:26:39 reported by Nann Cheng