OREANDA-NEWS. December 07, 2011. European debt crisis and US deficit reduction standoff have increased global economic uncertainty, and caused steel demand to fall short in the traditional high season. Most steel mills were forced to reduce production. Lower steel demand has put spot iron ore and coal prices under pressure, and made the steel price further plunged, reported the press-centre of CSC.

In addition to the global economic slowdown, extremely low steel prices from China and Korea also made the buyers hesitant to place orders. In order to enhance the competitiveness of customers and strengthen market confidence, CSC has decided to reduce steel product prices sharply by an average of 7.08%, or NT\\$1,756/MT for January and February sales. Details are listed below.

Furthermore, foreign steel mills’ extremely low dumping prices, which are far from normal, seriously hurt Taiwan steel industry. Facing the unfair trade behavior and destructive competition, CSC has filed antidumping petition to the government in order to sustain a healthy business environment and defend Taiwan steel industry.