Taiwan’s Yusco and Tang Eng have announced to slash production continuously in July.

However, they have not confirmed the actual number of reduction so far. It is projected that the cut level will be another 20 percent more after last 20 percent output reduction.

Due to the falling of nickel and weak market demand, the domestic stainless steel market shows a downward plunge which drives the mills to cut production in order to maintain the market.

Besides, in response to the current low market sentiment, Yusco and Tang Eng also announced to cut their list prices for stainless steel by NT$28,000/ton in July.