POSCO Suspends Steel Plate Offers To Taiwan Amid Trade Dispute

POSCO is a South Korean company that exports steel to Taiwan. Recently, the company has been struggling with low demand and the trucker’s strike. We hope for good news from them in the upcoming months.

Steel export from South Korea is still facing an uphill climb of recovering from September’s Typhoon. With the truck drivers’ strike and the current low sentiment, there hasn’t been any offers for steel plate from POSCO. However, with China Steel Corporation (CSC) opening new list prices in early November, POSCO is hoping to restart from a more transparent outlook. The iron ore price has also been going up, which helps increase the hot-rolled coil price in China and US.

POSCO steel export was not recovered from the September typhoon, and there is local demand in South Korea remaining low. The trucker’s strikes cost the company too much.For now, POSCO has not put out steel plate offers for Taiwan’s inquiry.The market players said that since China Steel Corporation (CSC) opened new list prices in early November, they haven’t heard offers from POSCO.POSCO is waiting for a more transparent outlook on the current low market sentiment, along with the iron ore price increasing and US hot-rolled coil prices going up.

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