China Steel Raising Q3 Prices
China Steel Raising Q3 Prices
Jason
China Steel Corp. announced price hikes for the third quarter of 2004, driving steel costs even higher for fastener manufacturers. CSC raised steel export prices by $10 to $30 per metric ton, including a $20 to $25 per ton increase for steel exported to China, Taiwan Economic News reported. China consumes about half of all CSC exports. CSC will enforce different price increases on products for different markets. For instance, the Southeast Asian market will see higher price hikes than others because it experienced smaller increases in the second quarter of 2004.
Taiwan-based CSC reported a broad rise in prices for wire rod, electrical sheets and cold rolled steel coils. Hot rolled products are approaching about $550 per metric ton, while cold rolled items are reaching about $630 per metric ton. The price hikes prompted some Taiwan steel consumers to seek new steel sources in order to reduce production costs. Some firms have begun importing cheaper steel from Russia and Ukraine. �2004 FastenerNews.com
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