The transaction prices of China Steel Corp. (CSC)'s Al-killed finished steel wires have dropped further to NT$24,000/ton in the Taiwanese market recently, falling by NT$500~NT$700/ton.
Industry sources said that the prices might remain weak due to sluggish demand from downstream screw makers.
The transaction prices of CSC's Al-killed finished steel wires have fallen after CSC cut its list prices for low-carbon steel wire rods by NT$500/ton for next January-February.
In fact, the transaction prices of CSC's Al-killed finished steel wires had ever surged to NT$26,500~NT$27,000/ton early this year. However, the price dropped to NT$24,000/ton after CSC offered low-priced promotion.