China Steel Corp (中鋼), the nation’s largest steelmaker, yesterday raised domestic prices across the board for next month on the back of robust seasonal demand and inventory restocking by downstream clients.
The Kaohsiung-based company raised prices by NT$1,000 to NT$1,200 per tonne, its fifth consecutive monthly increase.
The move came as the World Steel Association on Tuesday reported that global steel demand is expected to grow 0.3 percent this year to 1.724 billion tonnes and increase 2.2 percent next year to 1.762 billion tonnes, signaling a recovery in the industry.
Photo: CNA
While market fundamentals are improving and momentum in the steel market is picking up, China Steel said that tensions in the Middle East have boosted global crude oil prices to about US$100 per barrel, driving up shipping and raw material costs, with iron ore at US$100 to US$110 per tonne and coking coal at US$230 to US$240 per tonne.
As raw material and energy costs for steelmaking continue to rise, major global steelmakers have raised prices.
In the US, Nucor Corp this week increased prices for the 13th time, with hot-rolled steel prices climbing above US$1,150 per tonne, a two-year high, while production cuts and the implementation of import quotas in Europe also pushed hot-rolled steel above US$820 per tonne this month, China Steel said.
In Asia, China’s Baoshan Iron & Steel Co (寶鋼) and Vietnam’s Hoa Phat Group raised prices, with prices for hot and cold-rolled steel in the region increasing by more than US$100 to US$120 per tonne since the start of the year, it said.
With global steel prices continuing their strong upward momentum, China Steel said its price hikes for next month reflect its cost structures and market conditions, and align with global steel prices and demand trends.
The adjustments would see the company’s hot-rolled steel plates and coils increase by NT$1,200 per tonne, cold-rolled coils by NT$1,200 per tonne, and electro-galvanized coils, hot-dip galvanized coils for construction and coating, hot-dip galvanized coils for home appliances and electrical steel coils by NT$1,000 per tonne, China Steel said.
ENERGY ISSUES: The TSIA urged the government to increase natural gas and helium reserves to reduce the impact of the Middle East war on semiconductor supply stability Chip testing and packaging service provider ASE Technology Holding Co (日月光投控) yesterday said it planned to invest more than NT$100 billion (US$3.15 billion) in building a new advanced chip testing facility in Kaohsiung to keep up with customer demand driven by the artificial intelligence (AI) boom. That would be included in the company’s capital expenditure budget next year, ASE said. There is also room to raise this year’s capital spending budget from a record-high US$7 billion estimated three months ago, it added. ASE would have six factories under construction this year, another record-breaking number, ASE chief operating officer Tien Wu
The EU and US are nearing an agreement to coordinate on producing and securing critical minerals, part of a push to break reliance on Chinese supplies. The potential deal would create incentives, such as minimum prices, that could advantage non-Chinese suppliers, according to a draft of an “action plan” seen by Bloomberg. The EU and US would also cooperate on standards, investments and joint projects, as well as coordinate on any supply disruptions by countries like China. The two sides are additionally seeking other “like-minded partners” to join a multicountry accord to help create these new critical mineral supply chains, which feed into
For weeks now, the global tech industry has been waiting for a major artificial intelligence (AI) launch from DeepSeek (深度求索), seen as a benchmark for China’s progress in the fast-moving field. More than a year has passed since the start-up put Chinese AI on the map in early last year with a low-cost chatbot that performed at a similar level to US rivals. However, despite reports and rumors about its imminent release, DeepSeek’s next-generation “V4” model is nowhere in sight. Speculation is also swirling over the geopolitical implications of which computer chips were chosen to train and power the new
TECH WINNERS: Taiwan and South Korea reported robust trade, which suggests that they have critical advantages in the rapidly expanding AI supply chain, an official said Exports last month surged to a new high, as booming demand tied to artificial intelligence (AI) infrastructure fueled shipments of advanced technology components, underscoring the nation’s pivotal role in the global semiconductor supply chain. Outbound shipments climbed to US$80.18 billion, the highest ever for a single month, rising 61.8 percent from a year earlier and marking the 29th consecutive month of growth, the Ministry of Finance said yesterday. “The surge was driven primarily by global investment in AI infrastructure,” Department of Statistics Director-General Beatrice Tsai (蔡美娜) said. The mass production of next-generation AI computing systems has accelerated procurement across the semiconductor supply
RSS