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Taiwan Steel May sales falls sharply

Taiwanese hot rolled coil selling figures have decreased sharply over the last month, according to MEPS. Producers are attempting to boost sales amidst relatively muted activity.

Cold rolled coil sales remain slow. Producers have agreed further, relatively large concessions. Domestic mills continue to try to claw back business from overseas suppliers.

MEPS has also noted further price erosion for hot dipped galvanised coil, in a climate of tepid demand and fierce import competition. Overseas sales have been hit by threats of trade action. After falling in April, electro- zinc coated coil selling values have stabilised.

Yieh Hsing, one of the major wire rod producers in Taiwan, announced it would slash list prices for May contracts. The move has been reflected in the marketplace, with transaction values tumbling severely.

Domestic or local mills have conceded discounts for rebar in the face of muted demand and lower scrap costs. There is some underlying negative pressure in the merchant bar market. Lower prices cannot be ruled out in the near future.