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Taiwan's stainless steel market rebounds after China's cancellation of tax rebate

4 May 2021 16:36 reported by Jamie Yen

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After the falling trend in April and being boosted by rising international raw materials, the domestic upstream stainless steel plants in Taiwan have reversely increased the steel prices in May.

More importantly, the bomb of the cancellation of the tax rebate in China has made a strong push to the steel prices in Taiwan's market.

Although the international nickel price remained stable at around US$16,000/ton in April, almost no change as the average price in March, the prices of raw material such as iron ore and scrap have been rising continuously.

Meanwhile, the increasing ocean freight rates have caused Taiwan's upstream steel mills to increase the steel prices, especially the price of 304 plates.

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