China Steel Corp. (CSC), the largest carbon steelmaker in Taiwan released to remain its list prices of electric furnace (EF) Al-killed wire rod unchanged for August, which met what market participants expected.
In fact, CSC's EF Al-killed wire rod list prices had ever surged to NT$27,000/ton last year; however, CSC started to reduce the prices since last September and the total price cut has reached NT$3,000/ton until now.
Therefore, it's predicted that CSC might not cut its EF Al-killed wire rod list prices further in the near future since the price cut will bring heavy pressure to its steel wire and bar prices.
Accordingly, industry sources indicated that Taiwanese wire rod market may become stable gradually after CSC's price announcement