Yieh United Steel Corp. (Yusco), one of Taiwan's leading stainless steel producers announced its new prices for August. Yusco has increased the price of 304 stainless steel products by NT$1,500/ton for its domestic sales.
In addition, Yusco stated that China's stainless steel prices rose last week and demand from Asian, European and American markets increased, which means that end users have started to buy their stocks in the second half of this year.
The cost of stainless steel production has also been on the rise due to the depreciation of the Taiwanese dollar and the increase in raw material prices. Yusco cited the competitiveness of the market and the reflected cost increase among the reasons for the price increase.
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