Chinese Ansteel increases hot-rolled steel products price up to 5%
Ansteel, one of the leading steel manufacturers in China, had announced to increase its August price of hot-rolled products by RMB 100-200/ton, with an increase of approximately 5%.
Not only Ansteel but also one of the Taiwanese steelmakers in Vietnam, Formosa Ha Tinh Steel Corporation (FHS), decided to increase prices. The strong price was caused by the continuous increasing cost and the strong demand from the international market.
According to the previous years, the third and fourth quarter might be the peak season for the steel industry, so the market expected that the price would continue to go up.