China Steel Corporation (CSC), the largest carbon steel manufacturer in Taiwan, announced a price hike in all the items for January and the first quarter of next year.

For January 2024, the price of hot-rolled plate/coil, cold-rolled coil, electro-galvanized (EG) steel coil, hot-dip galvanized steel coil for home appliances, computers, and other materials, and electrical steel (ES) coil was hiked by NT$500/ton. The price of hot-rolled coil applicable to rolling materials and hot-dip galvanized steel coil for construction and pre-painting was up by NT$700/ton.

For the first quarter of next year, the price of hot-rolled plate/coil, cold-rolled coil, and automotive steel was raised by NT$500/ton. The price of wire rod and steel plate was hiked by NT$800/ton.

CSC said that the overall global economic environment is gradually stabilizing with a continuously cooling inflation. Global steel demand was expected to increase by nearly 34.6 million tons from that in 2023. Besides, the prices of raw materials, such as iron ore and coal, continue to rise, further supporting and boosting steel prices.