CSC held the domestic pricing meeting for January and February of 2010

On November 26th, 2009, China Steel Corporation (CSC) held the domestic pricing meeting for January and February of 2010 and announced the price cut in the following table. The average adjustment of CSC’s domestic steel price is about NT$280 per metric ton, of which the deeper cut on plate reflecting reaction to the low-price Asian import as well as the assistance to the infrastructure rebuilt on August 8th flooding area; cut on CR aiming at high-grade auto steels; cut on ES defending foreign import and helping local processors; cut on GI relieving local market from decreasing construction demand and surging import.

However, CSC expects a stronger steel price rebound next year in Asia. The outlook derives from that iron ore price will inflate 30-35% proposed by the three major global miners, and the global apparent steel consumption will grow at 9.2% in 2010 as forecasted by the World Steel Association.

Prices Decrease for Domestic Sales in the January and February Shipments of 2010

source: http://www.csc.com.tw/csc_e/nc/newsMain.asp?newsid=564