Taiwan Yusco’s share price hits 18-year high, triggering circuit breaker
Views : 300
Update time : 2021-07-01 16:57:28
The highest share price of Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, surged by more than one time yesterday (June 30) compared to the average price in the previous trading day, hitting a new high since August 2003 and even triggering circuit breaker mechanism to halt the market at 11:37.
Due to Russia’s intention to impose export taxes on nickel, the price of this metal was driven and the overall market turned positive. Yusco also hiked the prices of some stainless steel products on June 29.
According to market participants, the price hike of Taiwan’s upstream suppliers will be beneficial to the stainless steel market until the fourth quarter. Besides, due to the slowdown of the COVID-19 epidemic in Europe and America and blockade policies eased in various countries, the steel demand will keep strong, and Yusco was also expected to have room for price increases in the future.
