Skyrocketing prices of iron ore and coal have moved China Steel Corp., Taiwan's leading upstream supplier of steel products, to raise its steel prices of by an average of NT4,200 per metric ton, for a record hike of 18 percent, in Taiwan in the second quarter of this year. It makes a better sense that China Steel, facing overwhelming criticism of its price-raising policy from downstream clients, can't help but raise quotations in the second quarter in Taiwan, when a huge price gap of nearly 200 US dollars on average between its domestic quotations and international export prices is considered.
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