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Taiwanese Tang Eng hikes stainless steel prices for Aug

31 Jul 2020 17:21 reported by Joy Liu

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Tang Eng Iron Works Co., Ltd., one of the main stainless steel manufacturers in Taiwan, announced to hike its new stainless steel prices for August today (July 31).

According to the announcement, the prices of 300 series hot-rolled coil and cold-rolled coil were raised by NT$2,500/ton, which the same as the price adjustment of Yieh United Steel Corp. (Yusco), another major stainless steel manufacturer in Taiwan.

Tang Eng didn’t announce its prices for 200 series hot-rolled coil and cold-rolled coil this time, as well as 430 products. The surcharge of 316 products was kept unchanged. The export price for 304 was increased by US$70/ton.

Tang Eng said that the decision to hike its prices was to reflect raw materials costs due to the increased nickel prices. Tang Eng has raised its price for four consecutive months.

Market participants said that both Tang Eng and Yusco raised their prices for August this time, which will drive stainless steel market prices despite weak domestic demand.

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