China Steel Corp. (CSC) announced the latest price policy for July/August delivery yesterday. The company cut the prices of hot rolled steel by NT$1,800/ton averagely.

Taiwanese steel pipe mills said CSC’s price dip for HR steel met their forecast.

In fact, Taiwanese steel pipe mills have ask CSC to cut HR steel prices as they’ve faced the fierce price competition due to down HR steel prices in global market.

Steel pipe dealers indicated that they would adjust the prices for July according to CSC’s price dip for HR steel.

However, dealers said that CSC might not decrease the HR steel prices for September delivery after the current price drop. Thus, it will be a good chance for Taiwanese steel pipe mills to win the order from domestic and overseas market during July and August.