Taiwan’s upstream stainless steel producers raised their June domestic prices, securing a consecutive seven-month increase. The benchmark 304 hot-rolled and cold-rolled coils rose by NT$2,000 per ton, bringing the cumulative seven-month price surge to NT$25,500.
High production costs, driven by rising raw material expenses and upcoming summer electricity rates, prompted this latest price adjustment. Increasing molybdenum prices and a hiked May London Metal Exchange (LME) nickel average offset slight declines in Chinese ferrochrome and ferronickel.
International markets also supported the trend, as Asian stainless steel cold-rolled coil export prices rose by US$120 per ton over the past month.
Despite cautious, need-based procurement from downstream buyers, market participants expect stable or slightly rising short-term prices due to firm global markets and supply reductions in China.