Taiwan’s imports of 300-series stainless steel hot-rolled coils reached 59,560 tons in March, a 49.9% increase over February. This volume represented a 16-month high.

The surge was in line with two consecutive months of rising import prices, driven primarily by price adjustments from Indonesia Tsingshan. Total import figures for March rose nearly 50% compared to February.

Indonesia’s policy to reduce nickel ore production keeps raw material costs high, forcing Indonesian mills to raise export rates. Although March had a sharp monthly spike, total imports for the first quarter reached 148,354 tons, down by 11.2% compared to the same period last year.

Market participants expect import prices to stay elevated, saying that higher costs typically lead to a reduction in overall purchase volumes.