Taiwan steelmakers raise prices on global recovery

全球經濟復甦之際，台灣鋼鐵製造商上調鋼價

TAIPEI (Taiwan News) — China Steel Corp. and Chung Hung Steel both raised June steel prices Monday, citing a global market recovery and higher costs driven by geopolitical tensions.

CSC said it will increase June list prices by NT$500 (US$16) to NT$1,200 per tonne, citing improving seasonal demand and sustained restocking by downstream manufacturers, per CNA. It said global market conditions have turned more supportive after a prolonged downturn.

The company said the Israel-Iran conflict has driven up crude oil, freight, and energy costs, while also tightening global supply as exports of steel and semi-finished products from the Middle East decline. These factors, it added, are contributing to upward pricing momentum.

CSC said major steel products including hot-rolled and cold-rolled coils will see increases of up to NT$1,200 per tonne, while some electrical steel products will rise by NT$500 per tonne. It added that similar price strength is being seen across the US, Europe, and other Asian markets.

In the US, hot-rolled steel prices have climbed to a two-year high after 16 consecutive weekly increases by Nucor, CSC said, per UDN. In Europe, tighter import controls have constrained supply, while in Asia, producers such as Baosteel and Vietnam’s major mills have also raised prices.

Separately, local single-rolling mill operator Chung Hung Steel said it will raise June domestic prices by NT$1,200 to NT$1,500 per tonne, with export prices adjusted upward depending on product type and market.

Chung Hung said elevated coal and iron ore costs, along with higher energy and logistics expenses, continue to support global steel price increases. It added that the latest adjustments reflect market conditions and aim to stabilize expectations as the sector moves into a recovery phase.