Taiwan's CSC bullish on steel market trend of this Q2
14 Feb 2020 14:30 reported by Alston Tsai
Despite the worse situation of the Wuhan epidemic, China Bao Steel and Vietnamese Formosa Ha Tinh Steel, two of the leading steelmakers in the world, have announced to flat their steel prices to stabilize the market.
Followed the trend, China Steel Corporation (CSC), one of the leading steelmakers in Taiwan, believed that the steel market would still optimistic in the second quarter of this year, and the new price might rise slightly.
At present, CSC took orders with the principle of stability. Wuhan epidemic has delayed the working day and producing operation in most of the Chinese steel mills, which has impacted strongly on the export market.
Originally, Formosa Ha Tinh Steel had the opportunity to moderately increase prices. However, considering the sensitive period of the epidemic, Formosa Ha Tinh Steel decided to stable the price and pushed up the market confidence.
Taiwan’s CSC pointed out there were still some lower price steels in the Asian market, mainly because of the panic emotion in the Chinese market and some of the traders got huge pressure on their high-level stocks.
In addition, Japanese, Korean and Indian mills were still holding prices now. The prices for the first quarter of CSC have been reduced overall, with a decrease of about 3.03%.
However, the price-up atmosphere of the new price since April has not changed for the time being and kept watching on the Wuhan epidemic and global market price fluctuation.
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