China Steel Corp
(CSC, 中鋼),
Taiwan’s largest steelmaker, yesterday said it would keep domestic steel prices
unchanged for deliveries next month for a second consecutive month, buoyed by
improving supply chain inventory and rising manufacturing costs.
That could pave
the way for a price rebound next month as the Kaohsiung-based steelmaker is
seeing more signs that the global steel industry’s downtrend is bottoming out
due to a reduction in steel production.
Steel production
in Europe is constrained by soaring energy prices and reduced imports of
semi-finished products from Russia, leading to a shortage, CSC said in a
statement yesterday.