Benefiting from eased US-China trade tensions and Philippine planned nickel export restrictions, China's stainless steel futures and spot prices have continued their upward trend after the Labor Day holiday. The surge in futures encouraged market restocking.

However, Taiwan's stainless steel market remained stagnant due to weak domestic and export demand.

While nickel prices have also increased, other alloy material costs remain stable. Chinese distributors noted improved market sentiment due to the slight easing of US-China relations, though end-user demand is yet to recover.

Taiwanese market players believed the price stalemate will persist as local mill prices maintained support despite low order volumes, currently at 40-60% of the volume in April. Market movements will depend on mills' strategies to stimulate orders in the second half of the month.