Yieh United Steel Corporation (Yusco), a leading stainless steel producer in Taiwan, announced price increases for its June stainless steel products today (May 28).
The steelmaker raised its core 304 hot-rolled and cold-rolled coil prices by NT$2,000, extending an upward pricing trend for a seventh consecutive month. Additionally, the surcharge for 316L products rose by NT$6,000, though 430 products remained flat.
Surging raw material expenses drove the adjustment. Indonesian nickel mining curbs pushed nickel pig iron costs up, keeping London Metal Exchange (LME) nickel prices at high levels. Furthermore, global stainless steel scrap prices climbed, and the onset of Taiwan’s summer electricity rates increased domestic manufacturing expenses.
On the demand side, recovering consumer confidence sparked inventory restocking, matching production cuts in China and Indonesia to stabilize global market supply.