Due to a sharp rise in the Taiwan dollar exchange rate, Taiwanese steel mills may raise the price of hot-rolled coil (HRC) by about US$20-30/ton.
Traders pointed out that after the US reciprocal tariffs were announced, almost all buyers in the global market are waiting to see the subsequent changes.
According to current market conditions, China Steel Corp. (CSC)'s FOB price to the European market is much higher than that of other mills. Coupled with ocean freight, the CFR price is higher than the HRC prices with Indonesia and Malaysia origins.
On the other hand, although South Korea has anti-dumping measures against China's HRC, local manufacturers still continue to purchase from China because the price is competitive.
In the Asian market, CFR prices in Southeast Asia and Japan are lower than CSC's offers. If prices are really raised by Taiwan's mills, export sales will be under pressure.
