Chung Hung Steel Corporation (CHSC), a Taiwan-based carbon steel producer under Taiwan’s China Steel Corporation (CSC), announced that it will increase its domestic hot-rolled, cold-rolled, and galvanized steel products by NT$500/ton for October. The export prices for November were based on the product and region, with actual offers referring to the local market conditions.

After the US Fed lowered the interest rate, it might boost the investment and steel demand. In addition, the production costs remained at a high level. CHSC expected that confidence in consumption would be improved in the near future. Therefore, the company decided to adjust the price moderately in order to stimulate demand and maintain competitiveness in the market.