Stainless steel prices have been supported to a certain extent recently by the rise in raw materials. The steel market is paying attention to the reconstruction needs after the Russia-Ukraine war and the stimulus policies that may be introduced by China's two sessions.

Sinkang Industries, a stainless steel coil and sheet processing company in Taiwan, expects the market conditions in the second quarter of this year to become clearer.

The company said that although supply and demand issues still exist and the Chinese market continues to affect stainless steel prices and squeeze profit margins, prices have stopped falling due to the support of rising electricity prices and raw material costs. However, the current momentum for price increases is still insufficient, and the entire steel market still needs to observe whether demand picks up.