Affected by Indonesia Tsingshan’s six consecutive price increases in the past three weeks, the cost of stainless steel has risen by US$110-120/ton. The price increase in April is highly expected with a hike of more than NT$1,000/ton compared to March.

It was rumored in the market that some steel mills were even calling for a price increase of NT$5,000/ton, indicating a definite attitude toward a price hike in April.

In terms of exports, US inquiries have picked up, and some steel mills' quotations have increased by US$100/ton, which has supported transactions. Market participants predicted that the price increase in April would be about NT$3,000-4,000/ton, and the actual increase may be NT$2,000-2,500/ton, depending on the downstream demand and stocks.

The market buying sentiment is not clear after the marker prices increased last week, while buyers and sellers need time to find a balance for the prices.