Quintain Steel, one of the major wire products re-rolling mills in Taiwan said that the steel prices seem to bottom out in the Taiwanese market since Taiwan's China Steel Corp. (CSC) announced to keep its new prices for steel bars and wires unchanged for next January and February and Feng Hsin decided to rise its December prices.
Besides, Quintain Steel's selling prices have actually rose slightly month by month even though the firm announced to remain its base prices for most products unchanged for the fourth quarter.
In addition, the appreciated new Taiwanese dollar will help Quintain Steel to cost down from its imported billet sources.
Industry sources indicated that the weak market demand may cause Quintain Steel not able to make profits in 2012 while the recovering market situation may help the firm to narrow its financial loss in the fourth quarter