Recently, the transaction prices of China Steel Corp. (CSC)'s electric furnace (EF) Al-killed finished steel wire have continued falling to NT$26,500/ton in the Taiwanese market.
It's known that the transaction prices of EF Al-killed finished steel wire dropped to NT$27,000~NT$27,200/ton early this month after CSC cut its July list prices of EF Al-killed wire rod by NT$1,000/ton.
Furthermore, it dropped to NT$26,500/ton currently after CSC announced to remain its August list prices of EF Al-killed wire rod unchanged.
Industry sources indicated that the price dip of CSC's EF Al-killed finished steel wire was caused by weak demand from downstream screw makers.
For the prospect, it's predicted that the transaction prices of CSC's EF Al-killed finished steel wire might remain weak in the short term since the downstream screw makers still have stocks on hand