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Taiwan’s top integrated steel producer China Steel Corp announced that it is taking measures to curb speculation and maintain the stability in Taiwan’s steel market. It said “To ease the tight supplies of finished steel in the local market, CSC will prioritize providing steel for local end-users including tool and machinery manufacturers to the extent that its existing supply capacity allows. CSC will also temporarily suspend the export of some steel products to benefit all downstream steel consuming industries in Taiwan.”
CSC added that it has been asked by the local government and related associations to help investigate steel consumption and prices in eight major industries and the steel mill will be looking for evidence of any misconduct such as price gauging and hoarding in the industries value chains.
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