China - 2005 December 4
China Steel Corporation (CSC) held the pricing meeting of the 1st quarter of 2006 and announced the price decrease as shown in the following table. Noticing the sustaining price recovery in the U.S. and the recent first quarter price hike announcements in EU market, however, viewing the recent across-the-board price cut of major steel mill in China for the first quarter, 2006, CSC decided to adjust the domestic sale prices for the first quarter of 2006. The reason behind the decision was to strengthen the competitiveness of downstream industries and alleviate the cost burden of its customers. Prices decrease for Domestic Sales as of the 1st quarter, 2006 Products Adjusting Amounts (NT$/MT) Steel Plates -740 Bar and Rods -1410 Hot-Rolled Sheet/Coils -2370 Cold-Rolled Sheet/Coils -1860 Electro Galvanized Sheets 0 Electrical Sheets -3750 HDG Sheets -930