OREANDA-NEWS.  January 24, 2013. China Steel Corporation (CSC) held the domestic pricing meeting for 2013 March shipments and announced the following statement:

Since European debt crisis has eased and business confidence started to rise, ECB decided to keep the key interest rate unchanged. Meanwhile, U.S. House approved deal to avert fiscal cliff and Fed launched QE4 to keep economic growth. Besides, as China launched infrastructure stimulus package and tax deduction policy, the economy and export has shown a strong indication of recovery. Benefitting from international economy becoming more stable, Taiwan’s industrial production and export order both show sign of recovery and DGBAS modifies 2013 GDP up to 3.15%.

Supported by the rise of the iron ore prices and the global economy turning better, steel prices reached the bottom and bounce out. Due to low inventory level, steel users started to fill up stock, which also pushed up steel prices. Meanwhile, mills raised steel prices in past few months. Considering that the international economy is getting better and steel prices are rising, to maintain the competitiveness of customers and strengthen market confidence, CSC has decided to raise steel prices moderately, excluding general PLATE and EG products, by an average margin of 3.08% (the average increased price is NTD612/MT.) in 2013 March.

In addition, Japan, Korea and India keep selling low-price PLATE to Taiwan, which seriously hurt Taiwan steel industry. The market share of import products reached to 35% in 2012.Q4, compared to 21% in 2012.Q1. CSC will pay close attention to unfair competition.