Taiwan’s import prices for 300-series hot-rolled stainless steel rose for a seventh consecutive month in August, surpassing the NT$70,700 per ton level. This represented an increase of about NT$2,550 over July and an overall growth of nearly NT$15,970 across seven months, attaining the highest price point since April 2023.
Market participants reported that price hikes from Indonesia Tsingshan, driven by Indonesian nickel ore output curtailments, pushed domestic import costs higher. Therefore, import volumes fell by 19.5% month on month in August to 21,800 tons. This volume hit the lowest monthly level since January 2021, reflecting a substantial rise in procurement costs for domestic steelmakers despite lower actual imported shipments.