Taiwan’s major steel mills’ August shipments increase

In August, China Steel Corporation (CSC) and its subsidiary, Dragon Steel Corporation (DSC), reported total shipments of 927,000 tons, surpassing their target by 47,000 tons and marking a 6% increase from the previous month.

CSC contributed 629,000 tons to the total, showing a 1.2% rise from July. DSC's shipments reached 298,000 tons, reflecting a 1.8% m-o-m growth. Of the total shipments, 538,000 tons were sold domestically, while 389,000 tons were exported. Compared to July, domestic sales increased by 5.3% and exports by 7.5%.

Chien-Chih Hwang, Executive Vice President of CSC, explained that the higher-than-expected shipments in August were due to delays caused by Typhoon Gaemi in July, which led to the postponement of some deliveries to the following month.

In addition, most Taiwanese companies announced price reductions for the third quarter, which represented a slow period in the iron and steel market. In its latest statement, CSC emphasized that the current market is under further pressure due to oversupply across the region, intensifying competition and making things difficult for local manufacturers. In response to these market conditions, CSC has made price reductions to help its customers secure more overseas orders and mitigate the impact of low-cost steel imports.