Chung Hung Steel Corporation (CHSC), a Taiwan-based carbon steel producer under China Steel Corporation (CSC), announced price increases for its June domestic sales and July export orders.

Domestic prices for hot-rolled and cold-rolled steel rose by NT$1,200 per ton, while galvanized steel climbed by NT$1,500 per ton. Export rates will vary based on specific products and regional market conditions.

This decision is in line with a strengthening global economy. S&P Global data shows the April Global Manufacturing PMI rose to 52.6, hitting a four-year high. Business expansion in the US, Europe, and Japan drives this growth, leading firms to build safety stocks.

Meanwhile, supply remains tight due to equipment upgrades at major South Korean and Japanese mills. Rising energy and shipping costs further support these higher prices, reflecting strong confidence in the international steel market.