Tang Eng Iron Works Co., Ltd., one of the major stainless steel producers in Taiwan, announced its February price adjustments on January 30, joining Yieh United Steel Corp. (Yusco) in raising rates.

The company increased the price of 304-series hot-rolled and cold-rolled coils by NT$7,000/ton. The surcharge for 316L stainless steel is also raised by NT$3,500/ton.

This represented Tang Eng's third straight month of price hikes, while its 304-series increase is NT$500 lower than the NT$7,500 surge announced by Yusco a day earlier. These price jumps reflect the current upward trend in the stainless steel market as major domestic producers are adjusting their February pricing strategies.