Taiwan’s carbon steel producer China Steel Corporation (CSC) has raised its product prices for May, with hot-rolled and cold-rolled steel increasing by NT$1,200 per ton. Other items, including galvanized and electrical steel, rose by NT$1,000 per ton.

This price adjustment is in line with a global recovery cycle. The World Steel Association (worldsteel) forecasts demand to grow by 2.2% next year, reaching 1.762 billion tons. Production costs are rising as oil stays near US$100 per barrel and iron ore remains above US$100 per ton. For the international markets, US and European steel mills have consistently raised their prices, and Asian competitors such as Baosteel and Hoa Phat have also increased their rates.

Domestic momentum is supported by Taiwan’s projected 7.71% economic growth from the Directorate General of Budget, Accounting and Statistics, and strong AI-driven exports.

CSC said that these gradual increases reflect rising raw material costs and steady downstream demand during the second-quarter peak season while maintaining market stability.