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China Steel Corp., Taiwan's largest steelmaker, said yesterday that it has decided to leave domestic wholesale prices for its steel products unchanged for September deliveries, compared with July-August contracts. After a 4.66-percent price cut for July-August deliveries, local steel prices have stabilized on the back of steel price hikes in the international market, China Steel said.
It was the first time for China Steel to keep its domestic wholesale prices intact after it started to slash prices for June-August deliveries as the global economy showed signs of slowing. The company lowered its domestic wholesale prices for June contracts by 2.08 percent.
China Steel said as international steel prices made a recovery recently, downstream steelmakers in Taiwan have witnessed export prices rebounding accordingly.
China Steel said the recent hikes in the international steel prices partly reflected a decline in inventories in the industry, while many steelmakers have suspended production for annual maintenance to cap production at a time of higher electricity rates for summer time or power rationing.
However, as the third quarter remains a slow season for the steel industry, China Steel, a major local upstream steelmaker, decided to leave domestic wholesale prices unchanged.
China Steel's latest pricing strategy followed its Chinese counterpart
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| CFE24-1UU IKO | 72 | 30.6 | |
| CFE24-1R IKO | 72 | 30.6 |