Taiwan’s Yusco & Tang Eng expected to hike price by NT$3,000/ton for Sep
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Update time : 2023-08-28 18:09:41
Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd. (Tang Eng), the major upstream stainless steel suppliers in Taiwan, will announce their new prices for September this week.
According to market participants, with higher costs of raw materials, such as nickel pig iron and rising market prices, it was expected that the price of 300 series products will have a potential increase of NT$3,000/ton, and the downstream companies, including YC Inox, Froch, and Sinkang, will also be stimulated to hiked their prices.
It was believed that the upstream and downstream of the stainless steel industry should be in the market bottom in the second quarter of this year. However, driven by the administrative measures and continuous recovery of demand in China, the stainless steel market will gradually recover in the second half of the year.
