Taipei, June 26, 2008 (CENS)--China Steel Corporation (CSC), Taiwan`s largest integrated producer of steel products, will call a third-quarter production/sales meeting to decide export prices tomorrow. It is expected the company will broadly raise product export prices at the meeting.
At present, CSC sells cold and hot-rolled steel products at the price of US$200 per metric ton lower than the international prices. To keep up with the international market trend, CSC is expected to raise export price by an average of 20% up to 30% for the products to be shipped in the third quarter of this year. The company earlier boosted selling prices by 17% for the products to be sold to domestic market in the third quarter.
CSC said it didn`t fully lifted domestic-sale prices because it has to take care of domestic downstream manufacturers` competitiveness. As many foreign large-sized rivals have upward adjusted their product prices, CSC will follow suit to catch up with the international market trend.
To get a tight grip at the international trend, CSC recently has called internal meetings for several times by reviewing the viewpoints transferred from its representatives stationed overseas.
At the end of May, CSC raised the prices for cold- and hot-rolled steel coils, steel bars and wire rods, steel plates, electro-galvanized sheets, electrical sheets, hot-dip galvanized steel coils by an average of between NT$4,000 (US$132.01 at US$1:NT$30.3) and NT$5,000 (US$165.01) per metric ton.
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