It’s reported that the Taiwanese stainless steel mills including Yieh United Steel Corp. (Yusco) and Tang Eng have planned to raise its list prices by around NT$1,000/ton for November, driven by higher nickel prices.
However, market participants suggest the Taiwanese stainless steel mills remain prices flat for November after the two major stainless producers in China Taigang Stainless and Baosteel Stainless announced to keep prices unchanged for November.
It’s known that the Chinese stainless steel market has remained flat since early October. Although Chinese market demand increased slightly due to higher nickel prices, Taigang Stainless and Baosteel Stainless still decided to keep prices unchanged for November.
Market participants pointed out that as the Taiwan’s market demand has remained weak since October, they suggest the Taiwanese stainless steel mills keep prices flat for November. |
