Taiwan's stainless steel producers announced their prices for October last week, but Tsingshan Stainless had already raised its prices before the official rate announcement and implemented another increase this week.
Despite weak market conditions, the company continued to raise prices amid rising raw material and steel costs. Factors such as interest rate cuts in the US and favorable fiscal policies in China led to a recovery in LME nickel prices and this upward trend continued. However, many Taiwanese mills and downstream producers remain cautious, believing that this price increase may not translate into higher offers on their side.
Some industry participants expressed uncertainty over whether this bullish momentum will continue after the Chinese holiday. Although prices in both upstream and downstream sectors have reached relatively low levels, Tsingshan Stainless' price hike provided some support to the overall market trend. There is also optimism that order volumes will pick up in the near future.
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