The nickel pig iron price upward in early March boosted stainless steel prices in China, adding LME nickel price standing firm at US$16,000/ton, Indonesia Tsingshan Group had been inspired to bring up its export prices, and the price has been up by US$80/ton in March so far, all of which assured Taiwan's stainless steel mills to bring up stainless steel price for April delivery. However, downstream plants presumed the weak demand might limit upstream mills’ price upward trend.

Besides, upstream mills did not reflect enough costs for the Q1/25 delivery order, bringing up the price for April to cover the loss. The new list price upward by NT$3,000-4,000/ton (about US$100-120/ton) is unavoidable for the April delivery.

The sea-saw game of upstream and downstream is on the way before the mills’ new list price opens about ten days later.