Taiwan’s stainless steel prices are poised for a sixth consecutive increase due to persistently high raw material costs and a continued rise in international stainless steel prices, coupled with another price hike by Tsingshan in Indonesia.
Recently, the implementation of Indonesia’s new nickel ore benchmark price (HPM) policy on the 15th, coupled with China’s first-quarter GDP growth of 5%, exceeding market expectations, has led to a rise in nickel ore prices.
Previously, Taiwan’s stainless steel prices had been steadily rising since December of last year, accumulating a total increase of NT$19,500/ton over the past five months. If prices resume this time, it will mark the sixth consecutive month of increases!
Driven by the higher raw material costs, the market expects Taiwan’s stainless steel prices to rise again in May, potentially by NT$3,000-4,000/ton.