Taiwanese stainless steel producers will increase prices in October

Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream manufacturers in Taiwan, are expected to announce price increases for their products for the third month in a row in October. These hikes are a response to the escalating costs of nickel pig iron, various alloys, operational expenses, and the depreciation of the Taiwan dollar.

Market participants expect that the price for 300 series stainless steel products will increase by NT$1,000/ton in October, despite the current weak demand. This is because the stainless steel market has benefited from the Chinese central bank's interest rate cuts and China's policies to expand and resume consumption in the second half of the year.