Thursady, October 14,
China Steel Corp , Taiwan’s top steel producer, said on Tuesday it will keep domestic prices of most of its steel products unchanged for December from October-November as a fragile world economy hurt demand.
The decision came a day after bigger Chinese rival Baoshan Iron & Steel said it will keep key steel product prices unchanged for November bookings from October.
“Because of weaker growth in the global economy, steel demand has been less than expected so far and global steel prices still face pressure from oversupply,”
China Steel said in a statement. Ahead of the announcement, China Steel’s shares closed down 1.11 percent on Tuesday, in line with the main TAIEX’s fall.
Source: Reuters
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