Since the beginning of 2012, China Steel Corp.(CSC), the largest carbon steelmaker in Taiwan had informed its downstream users that the global steel prices will rebound soon and they suggested its buyers to restock their inventory at that moment.
However, the global steel market prices had kept going down in the first half of this year, causing some of CSC's domestic buyers complain that CSC intended to release positive market news instead of negative one.
Domestic buyers said some of them who trusted CSC's market analysis have been suffering from the loss in this year.
CSC explained that it was difficult to forecast the future steel market prices in such complex global economic situation; however, Taiwan's downstream users said CSC should not release the incorrect market information to confuse their purchasing decision.