Taiwanese stainless producers attempt July price increases

摘要

SINGAPORE - The price rises implemented by Taiwanese stainless steel producers in recent months are expected to continue into July. Yieh United Steel Co (Yusco) and Tang Eng Iron Works are attempting another round of price hikes for new orders from mainland China, against a backdrop of a long-term demand upturn and rising nickel costs. Market confidence in Chinese consumption has encouraged Yusco to announce price increments of between 30 dollars and 60 dollars per tonne across its coil product range. A company official said that, in addition to greater Chinese demand in general, a lower level of stainless imports into China from Europe has led to an increase in enquiries. "Order levels have been high but a significant fall in imports might have helped the price rise to endure," he commented. Yusco is quoting grade 304 CR export prices for June bookings at a level of 1,470 dollars per tonne c&f China. HR coil is at 1,400 dollars per tonne c&f China.