Prices for February 2024 in the Taiwan stainless steel industry are expected to be announced by the manufacturers soon. Despite the current weak market demand, the depreciation of the Taiwan dollar has also led to an increase in the costs of imported raw materials. Therefore, market analysts state that both stainless steel plate and wire rod prices are likely to remain at the same level or increase next month.
In addition, market demand is expected to be relatively weak due to the reduced business days in February due to the Lunar New Year holiday. Factories are advised to take a wait-and-see attitude.
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