Taiwan’s major upstream stainless steel mills expected to raise prices for Nov
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Update time : 2022-10-24 18:08:29
In face of the recent price hike of stainless steel in China, Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream suppliers in Taiwan, were expected to raise their new price for November, which will be a price increase for the second consecutive months.
According to market participants, the price of 300 series stainless steel has the potential for rising by NT$1,000 to NT$3,000 per ton, which was also expected to boost these upstream suppliers’ operating performance.
In the past week, the spot price of 304 hot-rolled steel soared by more than CNY 500 per ton, and stainless steel futures at the Shanghai Futures Exchange also hiked by CNY 400 to 500 per ton during the period.
