Taiwan’s stainless steel prices may rise in Aug
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Update time : 2023-07-27 16:21:26
Driven by the rebound in LME nickel prices and the consecutive rise in China's stainless steel market, Indonesia's Tsingshan has raised its export offers continuously, with a total increase of about CNY 100-120 in July.
Due to the rising costs of major imported raw materials, Taiwan's stainless steel prices for August were expected to rise further. However, under the weak overall demand, steel mills are unlikely to raise their price significantly.
The increase in prices was expected to be around NT$1,000-1,500/ton, and then adjust depending on the market condition. Higher prices will potentially boost purchases and benefit market development.
