CSHC Holds September Prices Flat as Steel Prices Bottom Out, Signaling Restocking Opportunity

China Steel Corporation (2002-TW) held its monthly price review meeting today (7th) for September. After nearly two months of correction in international steel prices, a bottom formation has become evident. As downstream inventories gradually adjust to healthier levels, the market expects the emergence of restocking opportunities. In response, CSHC has decided to hold all product prices flat for September, aiming to support downstream industries through the market adjustment period and jointly capture new order prospects.

From a macroeconomic perspective, the U.S. economy continues to demonstrate resilience and moderate growth. In Europe, persistently high energy costs are suppressing manufacturing demand. Mainland China's steel consumption recovery remains slow due to a sluggish property market and structural industrial transformation. Taiwan's high-tech sector stands out with robust export performance, while traditional industries face generally flat end-user demand.

In the steel market, ongoing fluctuations in the Middle East conflict continue to drive oil price volatility at elevated levels. International iron ore prices are consolidating within the USD 90–100 per ton range, while metallurgical coal prices remain stable around USD 210–220 per ton. As a result, steelmaking costs remain at high levels.

According to CSHC, steel prices in the U.S. and Europe remain elevated due to trade barriers. U.S. hot-rolled coil prices continue their upward trend, surpassing USD 1,300 per ton, while European HRC prices remain firm at around USD 810 per ton. Chinese steel mills have continued production cuts to improve profit margins, helping to tighten supply. Vietnam’s Hoa Phat and Ha Tinh steel plants slightly reduced their hot-rolled coil prices by USD 15–16, but the pace of decline is narrowing. As international steel prices gradually approach a bottom, conditions are becoming favorable for restocking activities to emerge.