China Steel Corporation cuts August prices by NT$800 per ton

China Steel Corporation (CSC) has announced a comprehensive price reduction for its August product offerings, cutting prices by NT$800 per metric ton. The decision, made during the company's monthly pricing meeting, aims to align with market trends and support its customers.

The move comes amid a downturn in the Asian steel market, characterized by declining prices and sluggish end-user demand. Market participants have adopted a wait-and-see approach, further weakening domestic price trends. CSC's adjustment is intended to provide relief to downstream industries and bolster their competitiveness in securing new orders.

CSC noted that global steel markets present a mixed picture. While U.S. hot-rolled coil prices remain strong due to tariffs and domestic demand, and European steel prices have strengthened following import quota reductions, the Asian market is experiencing its traditional off-season. This has led to weakened demand, prompting major steel mills in Vietnam, such as Formosa Ha Tinh Steel, to lower their new hot-rolled coil prices.

In Taiwan, the domestic steel market is mirroring the downward trend in Asia. CSC's August price adjustment will affect a range of products, including hot-rolled plates, hot-rolled coils (for general and rolling use), cold-rolled coils, electro-galvanized coils, hot-dip galvanized coils, and electromagnetic coils (medium-low and high-grade). The company also stated its commitment to monitoring the influx of low-priced foreign steel into Taiwan and accelerating trade remedy measures to protect the domestic steel industry.