It's reported that Chung Hung Steel, one of the major carbon steel producers in Taiwan released its price policy for October on September 26th.
The firm decided to cut its list prices for hot rolled steel, cold rolled steel and galvanized steel by NT$500/ton, NT$300/ton and NT$700/ton respectively for October.
Also, Chung Hung Steel has reduced its list prices for consecutive four months.
Chung Hung Steel stated that it decided to cut the prices for October in order to digest the inventories and it expected that the steel prices would bottom out.
Meanwhile, the firm remained its export prices unchanged for October.