Taiwan’s stainless steel market remains positive
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Update time : 2022-05-06 20:05:22
The Russia-Ukraine war tightened the global raw material supply and demand, coupled with the previous rapid rise in nickel prices, the downstream demand for stockpiles increased, which drive the revenue of domestic stainless steel mills to be better than expected.
Although the current demand has cooled, stainless steel prices rose more and fell less. Upstream suppliers, such as Yusco & Tang Eng, are facing less pressure on production costs.
The demand for stainless was expected to be driven by the US infrastructure, economic recovery, as well as the gradual easing epidemic controls in China. Taiwan’s main stainless steel mills’ operation was expected to remain strong and the outlook will be positive.
Entering the Chinese New Year holiday, market trading is sluggish
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