Taiwan's stainless steel prices keep going up
Last week, due to the increasing raw material costs, stainless steel upstream plants, including Yusco, Tang Eng, and Walsin Lihwa, raised their prices for February as expected.
These steel plants explained the main reason for the price rising was because nickel kept going up, approximately US$1000/ton higher compared with last December, and ferrochrome price also went up by 40%.
Meanwhile, orders are booming up for both the local and export market. After considering the higher costs and market demands, they decided rising February prices.
Downstream companies said the increase was higher than expected. February has Chinese New Year with fewer working days, so it needed to observe whether the market can really accept such high prices.
