Taiwan’s Tang Eng raises stainless steel prices for Sep
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Update time : 2020-09-01 16:29:14
Tang Eng Iron Works Co., Ltd., one of the main stainless steel manufacturers in Taiwan, announced to raise its new stainless steel prices for September yesterday (August 31).
According to the announcement, the prices of 300 series hot-rolled coil and cold-rolled coil were hiked by NT$5,000/ton, which the same as the price adjustment of Yieh United Steel Corp. (Yusco), another major stainless steel manufacturer in Taiwan.
Tang Eng didn’t announce its prices for 200 series hot-rolled coil and cold-rolled coil this time, as well as 430 products. The surcharge of 316 products was unchanged. The export price for 304 was increased by US$180/ton.
Tang Eng said that the decision to hike its prices was to reflect raw materials costs due to the surged nickel prices. Tang Eng has raised its price for the fifth consecutive months, with a total increase of NT$11,500.
Market participants said that both Tang Eng and Yusco raised their prices for September this time, which will raise stainless steel market prices despite weak domestic demand, and the increase in prices will depend on the future nickel prices going.
