Taiwan's CSC trims major steel product list prices by $25/t for Aug sales

China Steel Corp (CSC), Taiwan's largest steel mill, has decided to cut the list prices of its major steel products by TWD 800/tonne ($9.5/t) for local sales in August. The mill, headquartered in South Taiwan's Kaohsiung, is responding to weak steel prices in the Asian market and the poor demand from local end users, according to the company's latest release published on its website.

Although prices of steelmaking raw materials stay high, global steel prices have diverged recently, with those in the United States and Europe staying firm, whereas prices in Asia have weakened. Major steel mills in Asia such as Hoa Phat Group (HPG) and Formosa Ha Tinh (FHS) have announced cuts