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Taiwan CSC Likely to Lower Domestic Steel Price for January 2022
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2021-12-20
Taiwan CSC is going to announce the January and Q1 steel prices on December 22, 2021. The steel corporation is coming under pressure to lower steel prices. Baosteel Group from China having kept its steel prices for January unchanged is a shot in the arm, but the market is complicated by lower-priced hot rolled steel sold from India, Russia and China to Southeast Asia.
Taiwan CSC said the steel prices are under discussion but will be adjusted as appropriate to shorten the gap with international prices, considering the competitive edge for downstream industries to take orders. The steel corporation would wait until Formosa Ha Tinh Steel Corporation announce the February steel prices, evaluate the price trend across Asia and then evaluate the domestic steel prices for January and Q1, 2022.
With Baosteel's flat price signaling a halt in price drop and China's policies getting back to normal, steel demand is expected to stabilize in 2022. As long as China can control its capacity, supply and prices, there is optimism for the world's steel market and it will benefit steel corporations in cost control.
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