Posted on 26 Feb 2008
CSC wire rod price climbs further
Taiwan's China Steel Corporation (CSC) is expected to boost its wire rod price by NT$3,500~4,000/ton for the second quarter, due to 65 percent increase on iron ore cost.
Domestic market participants stop offering before CSC releases the final wire rod price on March 6th.
The current CSC price for wire rod A material is at NT$19,500/ton which is around NT$7,000 lower than China's export price offered to Taiwan last month at US$840/ton C&F (NT$26,500).
As iron ore price climbs dramatically, China's wire rod price will inevitably increase further. Therefore, even though CSC's final offer jumps by NT$4,000/ton to NT$23,500/ton, its price will be still much lower than global market.
