China Steel Corporation (CSC), the largest carbon steel manufacturer in Taiwan, was internally discussing sea freight rates for steel products in the first quarter of next year. Due to CSC’s reduced cargo volume, extended voyages, and a 20-50% increase in daily ship rents, shipping companies have strongly requested that freight rates be increased to reflect actual costs.

However, CSC considered that the export price of steel products was not high, which would restrict the company’s willingness to increase the sea freight. Therefore, it decided to keep sea freight flat. CSC said it will make appropriate adjustments after the steel market recovers.