China Steel Corp. (CSC), the largest carbon steelmaker in Taiwan is going to release its list prices for September on July 20th, 2012.
As Chinese steel giant Baosteel's price cut for August was much higher than expected, market participants forecasted that CSC would cut its September list prices by NT$1,000~NT$1,200/ton, higher than the previous forecast of NT$600~NT$800/ton.
It's known that Baosteel announced to reduce its August list prices by 4.6%~5.6 % last week, due to weak market condition.
Baosteel decided to cut the August list prices of hot rolled (HR), pickling and cold rolled steel by RMB200/ton, RMB100/ton and RMB260/ton respectively.
Also, the firm reduced the August list prices of hot dipped galvanized steel and non-oriented silicon steel by RMB100/ton and RMB260~RMB500/ton respectively.
Affected by Baosteel's sharp price cut for August, it's estimated that CSC might reduce its September list prices by NT$1,000~NT$1,200/ton to meet the customer's requirement.