Indonesia's Tsingshan has raised its export prices for the second time, increasing them by a total of US$70/ton. This move was supported by rising costs for key raw materials like nickel pig iron and LME nickel, as well as an upward trend in China's steel market.

The price increases from Indonesia are putting pressure on Taiwanese steel mills, which are now raising their own factory prices for August.

Taiwanese mills, including Yieh United Steel Corp. (Yusco), Walsin Lihwa, Tang Eng, and Tung Mung, are struggling to cover costs, even with the price adjustments.

Given the current raw material trends, some Taiwanese steel mills said further price increases may be needed in September.