Taiwan’s Tang Eng hikes stainless steel prices for Jan 2021
Tang Eng Iron Works Co., Ltd., one of the main stainless steel manufacturers in Taiwan, announced to hike its new stainless steel prices for January 2021 today (December 31), following the announcement from Yieh United Steel Corp. (Yusco), another Taiwan’s major stainless steel producer.
According to Tang Eng’s price announcement, the domestic price of 304 cold-rolled and hot-rolled stainless steel was up by NT$5,500/ton, and the surcharge of 316L was raised by NT$1,000/ton. The export price of 304 cold-rolled and hot-rolled stainless steel was hiked by US$200/ton.
Due to the surge in prices announced by both Yusco and Tang Eng, market participants expected that the stainless steel prices in the market will move firmly.
