Taiwanese stainless steel mills’ operating performance expected to rebound on increasing stainless s
The two major upstream stainless steel mills in Taiwan, Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., have raised their prices for two consecutive months. The new prices for 304 stainless steel hot-rolled and cold-rolled coil were both greatly hiked by NT$4,500/ton for August, which created a largest increase since September 2018.
According to market participants, the prices of stainless steel products from upstream and downstream steel mills will also be raised, coupled with downstream users’ stock replenishment, the stainless steel market will rise further. Therefore, the operating performance of stainless steel mills in Taiwan was expected to be better in the second half of this year compared to the first half.
