INVENTORY DIGESTION: While select product prices are to
increase, steel prices for domestic deliveries would slide by an average of
0.83%, China Steel said
China Steel Corp
(中鋼)
yesterday said it would raise the prices of hot-rolled plate and cold-rolled
coils, which are commonly used in construction and auto manufacturing, by
NT$500 per tonne for domestic deliveries next month, ending a three-month
streak of price cuts.
Other steel
products used in home appliances, computers and other applications would be
flat, the company said in a statement.
Overall next
quarter, steel prices for domestic deliveries would dip 0.83 percent on average
sequentially, or a decline of NT$500 to NT$1,500 per tonne, due to inventory
correction, the steelmaker said.