January 27, 2011
Hsin Kuang Steel’s president said on January 25th that he expected the hot roll coil prices in global steel market to rise to US$800/ton by around the end of second quarter or the early third quarter.
Meanwhile, as the current average prices of hot roll coil are at about US$680/ton, it means the prices may rise by another 20% in the coming future.
Hsin Kuang Steel is the largest steel plate cutting center and distributor in Taiwan; its president analyzed that the floods in Australia will cause the coking coal prices increase to US$320/ton from US$200/ton.
Also, the dysfunctional transportation system and the delay supply of coking coal sources will push the steel prices to go up in the coming future.
News Source www.yieh.com
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