China Steel Corporation (CSC), the largest carbon steel manufacturer in Taiwan, announced its new prices for November, with a price hike from NT$700 to 1,200 per ton.

According to the announcement, the price of cold-rolled coil, electro-galvanized (EG) steel coil of anti-fingerprint and construction, hot-dip galvanized steel coil for home appliances, computers, and other materials, and electrical steel (ES) coil was raised by NT$700/ton, the price of hot-rolled plate/coil and hot-dip galvanized steel coil for construction and pre-painting was up by NT$900/ton, and the price of hot-rolled steel coil for rolling was hiked the most, by NT$1,200/ton.

CSC said that the US economy remains resilient, and China's economic revitalization policies have boosted market confidence and driven up raw material prices.

Additionally, the Short Range Outlook (SRO) issued by the World Steel Association (worldsteel) also showed that the prospect for the global steel market is positive with a strengthening recovery.

Also, rising iron ore and coal prices have pushed up steel production costs. Global steel mills, including ArcelorMittal, Baowu, Anshan-Benxi Steel, and Formosa Ha Tinh Steel, have successively raised their prices, indicating that the global steel market has rebounded.