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Chung Hung Steel Raises Domestic Prices by NT$900 Per Ton for November
Non-Energy Minerals · Steel · economic_daily · 2026-10-14
2014
Chung Hung Steel has increased its domestic prices for hot-rolled, cold-rolled, and galvanized steel by NT$900 per ton, citing global manufacturing recovery.
What Happened
Price Hike: Chung Hung Steel announced a price increase of NT$900 per ton for its domestic hot-rolled, cold-rolled, and galvanized steel products for November. This move follows China Steel's recent price adjustments, reflecting the company's optimistic outlook for the fourth quarter and its commitment to passing on rising costs.
Global Outlook: The IMF reports that the global economy remains resilient, with growth projected to strengthen through 2027, supporting steel demand. Furthermore, the S&P Global Manufacturing PMI reached 53.0, a high since February 2022, signaling a recovery in demand from the automotive, appliance, and industrial sectors.
Supply Dynamics: Chinese steel mills are actively reducing production and inventory levels, as evidenced by a decline in crude steel output in late September. This supply-side discipline is helping to stabilize the market and improve fundamental conditions for the steel industry.
Regional Impact: Production cuts in Japan and South Korea, caused by extreme weather and facility maintenance at major mills like JFE Steel and POSCO, are tightening supply in Asia. These constraints are expected to support regional steel prices and reduce competitive pressure from low-priced imports.
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