Taiwan’s China Steel Corporation (CSC), Monday, announced its decision to partially suspend the export of hot-rolled steel plates as a measure to stabilize the domestic steel market and deal with price speculations. However, the company’s hot-rolled steel plate sales are under 5pc of its total shipment.
CSC will give priority to fulfilling the domestic market’s needs such as machine manufacturing and tool industries based on its supply capacity.
The current sales of CSC’s steel plates amount to 1mn mt based on statistics. Steel structure sector bought 40pc, while cutting industry got hold of 30pc while trading industry was left with 15pc. Around 3-5pc were sold to industries including machinery, pipe manufacturing, shipbuilding, and wind power sectors.