Taiwan’s upstream stainless steel mills expected to raise prices for Dec due to rising nickel prices & inventory replenishment
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Update time : 2022-11-29 16:42:05
Due to the rising nickel prices and the demand for market inventory replenishment, it was expected that Taiwan’s major upstream stainless steel manufacturers Yieh United Steel Corp. (Yusco), Tang Eng Iron Works Co., Ltd., and Walsin Lihwa would raise their prices for December, with an increase of about NT$2,000/ton, which would be the third consecutive month of price hikes.
Market participants said that steel mills have enough room to greatly hike prices to reflect costs. However, the market demand hasn’t been very strong recently. Therefore, the prices would be merely adjusted slightly in consideration of downstream competitiveness.
As long as the upstream suppliers hike their prices, the downstream stainless steel mills such as Yieh Hsing and Yuen Chang are expected to benefit.
