With the support of China's economic policies, Taiwanese steelmaker Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co. Ltd. are expected to raise prices for August 2023.
The Central Bank of China lowered the short-term policy rate in June. In addition, various measures were announced to improve the economy, such as tax cuts, lowering interest rates and loose monetary policy.
In addition, the international nickel price has improved recently, supporting China's stainless steel prices. Market experts stated that Taiwan's raw material suppliers will increase or hold prices in August 2023, with market confidence.
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