It is said that POSCO has recently exported a host of A36 plate to Taiwan with the price of USD 450 per tonne CFR. While earlier this month, CSC also shipped several thousand tonnes of CRC to South Korea with the price posted at less than USD 400 per tonne.
The low price transactions evidently show the price cutting war is now becoming even severe amidst the market downturn. As the world demand shrinks dramatically, steelmakers cross the world are actively taking all measures to survive the turmoil, such production suspension, price cutting and staff laid-off.
Insiders believe that the price slash wouldn't bring many trades as real demand still need more time to recover.