CSC raises export wholesale prices by 10%.

Taipei, June 29, 2009 (CENS) -- China Steel Corporation (CSC), Taiwan's largest integrated producer of steel products, recently raised export wholesale prices by an average of over 10%, or between US$30 and US$100 per metric ton, for its six major products to be delivered between August and October this year.

The above-mentioned six major products include steel bars and wire rods, cold-rolled steel, hot-rolled steel, electrical sheets, electro-galvanized sheets, and hot-dip galvanized steel coil.

T.H. Chen, president of CSC's subsidiary China Steel Global Trading Corp., said the price hikes by the CSC are in tandem with Asia's major steel producers. He said the steel market is enjoying brisk business as demand in the Asian market is on the rise.

With the price hike, CSC-produced cold- and hot-rolled steel is quoted at the export price of between US$500 and US$600 per metric ton, meeting the company's earlier expectation. The export price for electro-galvanized sheets is quoted at US$700 per metric ton.

A domestic trader in the steel market noted BaoSteel of China recently quoted hot-rolled steel at between US$520 and US$540 per metric ton. JFE of Japan and POSCO of South Korea recently quoted the same product at over US$500 per metric ton and cold-rolled steel at around US$600.

((BS)) (G)