Price increases in China and Taiwan
Taiwan’s Yieh United Steel Corp. (Yusco) decided to raise its list price as of June.
The domestic price increased by NT$5,000/ton for 300 series HR and CR, while the domestic price for billet rose by NT$6,000/ton.
The export price for 300 series HR and CR increased by US$160 – US$180/ton, while the price of 400 series was up by US$50/ton.
As mills continued cutting production, the stocks of stainless steel have remained at a low level. Besides, market confidence is returning along with the implementation of economic stimulus policies.
This follows earlier announcement by China’s Taiyuan Iron & Steel (Tisco) to increase their stainless steel prices.
The company is adding RMB100~300/ton on its product prices. The price for 304 series will be increased by RMB300/ton, and RMB100/ton for 400 series.
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