Stainless steel prices from Taiwan’s major upstream mills finally stopped falling in September, mainly due to the stabilized raw material prices, increased production costs, and the adjustment of downstream inventories.

Besides, the prices of energy and raw materials were expected to be raised by the impact of high-temperature weather and the Russian-Ukrainian war.

Market participants said that in spite of the current weak domestic market demand, the follow-up demand was expected to gradually recover, especially the need for stock replenishment from downstream buyers. Therefore, the overall stainless steel market will strengthen gradually after prices stabilized.