Taiwan’s Yusco & Tang Eng may benefit from current stainless steel market
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Update time : 2024-11-21 16:01:14
The current international steel market is weak and the demand for stainless steel is sluggish. However, the Vietnamese government has lifted anti-dumping duties on Taiwan’s cold-rolled stainless steel, which is beneficial to Taiwan’s upstream manufacturers, including Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd.
Moreover, the bargaining room for hot-rolled stainless steel raw materials provided by Indonesia Tsingshan has expanded. However, demand hasn’t picked up as expected, so buyers will still place orders based on actual needs.
Taiwan’s manufacturers raised prices in November, but buyers did not respond actively. The Chinese steel market is weakening, and the market still needs to observe whether there will be a replenishment demand before the Spring Festival.
