China Steel Corporation (CSC), the largest carbon steel manufacturer in Taiwan, raised the price of its wire rods and electric furnace al-killed steel wire rods (Dragon Steel’s products) by NT$600/ton for the second quarter, the first price hike after one year time.

Market participants noted that while most major Asian wire rod mills maintained their prices, many downstream customers hoped that CSC would also keep its prices stable. However, production costs remained high with a promising outlook for the steel market. Consequently, CSC decided to increase its prices.