Taiwan's upstream stainless steel mills are expected to open higher prices for November, supported by key industry catalysts. Depreciation of the New Taiwan Dollar against a strong US dollar raises raw material import costs. Furthermore, Taiwan's Ministry of Finance affirmed that dumped cold-rolled stainless steel imports from Vietnam caused injury to the domestic industry, providing significant trade support for local producers.
This follows earlier price adjustments by major mills Yieh United Steel Corporation (Yusco) and Tang Eng Iron Works, which raised October prices for 304 hot-rolled and cold-rolled products by NT$1,000 per ton.
Market participants project that domestic stainless steel prices will maintain a stable trend in the short term as buyers await upcoming official price declarations from primary steelmakers.