Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

China Steel Seeking First-Quarter Iron Ore Price Cuts

Dec. 6 (Bloomberg) -- China Steel Corp., Taiwan’s largest steelmaker, is in talks with iron ore suppliers to cut first-quarter prices amid declining demand.

The Kaohsiung-based steelmaker is negotiating with Vale SA and other producers, Hung jui-pen, the company’s public relations officer, said today by phone. China Steel and Baoshan Iron & Steel Co. have asked suppliers, including BHP Billiton Ltd. and Rio Tinto Group, to reduce prices by 23 percent to cut costs, according to the Economic Daily News.

The Taiwanese company joins mainland Chinese rivals in cutting steel prices and production on expected weaker demand from automakers and builders. China Steel hasn’t joined with Boasteel or other mills to seek a cut in iron ore prices, the company said in a statement to the Taiwan stock exchange. China Steel fell 1.7 percent to NT$28.4 in Taipei trading at 13:30 p.m.

China Steel may reduce output by as much as 20 percent in December as orders for the month decline, the Taipei-based Commercial Times reported Nov. 5, citing an unidentified official at the mill. The company said on Nov. 24 that it will cut domestic prices on seven products by an average 7 percent in January and February.

To contact the reporters on this story: Adela Lin in Taipei at; Jing Yang in Shanghai at

To contact the editor responsible for this story: Janet Ong at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.