Steel Pipe Prices Increased in Taiwan's Market
Reportedly, Taiwan’s Chung Hung Steel has announced to lift the carbon steel prices for February by NT$850-1,300/ton, over the market expectation. Driven by Chung Hung Steel’s price hike, the downstream steel pipe manufacturers have decided to the increase the priced by NT$1,200/ton accordingly. It’s known that Chung Hung Steel has decided to increase the prices of hot rolled and cold rolled steel by NT$1,100/ton and NT$850~NT$1,050/ton respectively; also, the prices of hot galvanized and cold galvanized steel have increased by NT$1,000~NT$1,300/ton and NT$1,000/ton, Yieh Corp reports.
China Steel Prices Decline on Low Demand
BEIJING (Scrap Monster): Rising raw material costs have weakened the demand for steel in China, the steel prices declined in spot markets before the Chinese New Year. The prices of iron ore sold to China increased to about US$190/ton CFR; moreover, the price is expected to hit US$200/ton. Meanwhile, the rebar prices have remained unchanged at between RMB4, 600~RMB4, 610/ton on last Thursday. However, it is said that several major steel makers in China would transfer the high raw material costs caused recent Australian floods to the buyers for February delivery. Therefore, market participants expect the surge of steel prices after the Chinese New Year holidays, Yieh Corp reports.
Tokyo Steel to raise product prices from February
TOKYO (Scrap Monster): Tokyo Steel, Japan’s largest construction steelmaker said on Monday that it will raise prices of all its products in February to reflect rising costs. The company would raise the prices of H-beam by Yen 3,000/ton to Yen28, 000/ton in February. Earlier, Nippon Steel has announced to raise the prices of H-beam by Yen 10,000/ton, on higher raw material cost and low inventories. The steel scrap prices currently are on a steady rise from the strong demand from Asian countries, Yieh Corp reports.
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