Tung Hung Steel, the major H Beam producer in Taiwan, has announced to hike its H beam price by TWD 500 per tonne recently, driven by rising scrap prices. Also, this is the first time that Tung Ho Steel increases its offer prices over the past six months.
After the announcement, its current new offer prices of H beam are about TWD 26,000 to TWD 27,000 per tonne. It is known that about 50% of Tung Ho's sales are coming from rebar sales and the other 50% are from H beam sales.
Since the market demand is expected to recover in the Q4, the market analyst predicted that Tung Ho Steel's Q4 sales may rise more than 10% to reach TWD 10.5 billion.