Taiwanese stainless steel producers are raising prices, some dramatically, for August 2021. And the South American steel market remains stunned after the end of Chinese export rebates on various steel products.
Taiwanese stainless steel producers drastically increase prices
Market sources report that Taiwanese stainless steel mills have raised prices, some drastically, for August. For grade 304, for example, prices have been increased by at least $270 per ton.
South American steel importers stunned by Chinese tax cuts
The end of 23 tax rebates on Chinese steel exports has almost brought the South American steel market, already shaken by price increases, to a standstill.
Affected by the cancelled export incentives are steel products from the HS code ranges 7209, 7210, 7225, 7226, 7302 and 7304, including cold-rolled coil, hot-dipped galvanized coil, galvalume and tinplate.
The South American market has been fixated on Chinese steel imports for years and will now inevitably have to look for alternatives.
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