It was reported that Taiwan’s China Steel Corp. (CSC) will announce the new prices of bar and wire rod for April and May in the end of this month.

The prices are expected to be increased sharply. However, the domestic market currently is sluggish. Most buyers seem to be soft to get into the steel market.

According to market source, downstream customers would place orders after Chinese New Year because they will make sure the latest price released from CSC after the long holiday.

It was reported that Korea’s BNG Steel has raised its stainless steel prices for February.

The company was bringing up its stainless steel 300 series prices by 117,000 won/ton. The company’s 304 prices rose to 3.92 million won/ton from 3.803 million won/ton, while 430 prices remained unchanged.

Posco also raised prices by up to 3.3 percent for February due to rising raw material prices.