China Steel Bar & Rod Prices Unchanged
4/24/2013 8:20:00 AM
FEATURE
Taiwan’s China Steel Corporation announced an average 2.08% price reduction for June, Fastener + Fixing Magazine reports. The average decreased price is NT＄442/MT.
However, bar and rod prices are unchanged.
“The World Steel Association has predicted the increase of global steel consumption only 2.9% in 2013,” CSC stated. “Recently buyers become much more conservative because of oversupply and low demand, and this situation results in the failure of attempting to raise the steel prices.”
In the Asian market, the depreciation of Japanese Yen boosted its export; meanwhile, Chinese mills also are trying to boost exports with considerably low prices.
“Nevertheless, as for the second half of this year, mills anticipate that the prices will reach the bottom and bounce out supported by the rise of the raw material prices and the fill up of stocks.” ©2013 GlobalFastenerNews.com
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