Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, announced that the new prices for both domestic and foreign sales are kept unchanged for October, in line with market expectations.

Yusco said that the EU's Carbon Border Adjustment Mechanism (CBAM) has led to a gradual recovery in market prices and is expected to stabilize the prices in other markets. Besides, governments of various countries are now taking economic stimulus policies, which will also help resume consumption of end markets.

The prices of international raw materials such as stainless steel scrap and Indonesia’s nickel pig iron and ferromolybdenum have remained high, coupled with the continued depreciating Taiwan dollar, steel mills’ costs are still at a high level. Therefore, Yusco made such a price announcement under consideration of downstream buyers’ competitiveness.