Tsingshan Group in Indonesia announced plans to begin steel plant maintenance and production reductions in August due to surging raw material expenses and inverted sales prices.
Compelled by severe nickel quota reductions exceeding 70% in the Weda Bay Industrial Park and firm ferronickel purchasing costs, the company also raised its 304 hot-rolled and cold-rolled stainless steel export quotations by US$30 per ton in early August.
This supply tightening and export price adjustment provide strong cost support for Taiwanese upstream stainless steel manufacturers. Market participants anticipate that domestic producers such as Yieh United Steel Corporation (Yusco), Tang Eng Iron Works, and Walsin Lihwa will likely implement steady price increases for their September product pricing structures, aligning with rising import expenses and international market trends.