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CSC likely to increase stee prices again

Add Time:2016-04-05 21:12:00 Clicks:
Taipei Times reported that Taiwanese steel giant China Steel Corp is expected to raise steel prices for the third straight time for June deliveries, buoyed by improving demand

Fubon Securities Investment Services Co analyst Lin Mao-youngsaid in a report released last week said that “The rebound to carry into the second quarter of this year, as the US Federal Reserve is expected to hold its loose monetary policy in the first half of this year on growing risks of economic weakness. There is a good chance that CSC will raise prices during a regular meeting to be held in the middle or at the end of April, after increasing prices twice on inventory buildup demand.”

He wrote “CSC has increased prices at a milder pace in previous months than its global peers… In the latest price adjustment, Chinese steelmakers increased steel prices by more than 200 yuan [per tonne] in April.”

The Kaohsiung-based steelmaker has only hiked prices by a combined 5.4 percent on the past two occasions.
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