Tang Eng Iron Works Co., Ltd., a major stainless steel producer in Taiwan, foresees a positive fourth quarter due to an upturn in the stainless steel market. The optimism comes from the stable global nickel price at the US$15,000/ton level, which provides a firm cost base.

Stainless steel prices gained momentum after Indonesia's Tsingshan raised its stainless steel export quotes for two consecutive months starting in July, improving sentiment across Asia. Global supply-side adjustments and Indonesia's strict capacity controls are expected to sustain prices.

Tang Eng sees steady demand from traditional peak season sectors such as home appliances, chemical, and infrastructure. Furthermore, the increase in China's stainless steel consumption also indicated a recovered demand. The long-term outlook remains strong, with forecasts showing a 9.6% compound annual growth rate for the global stainless steel market through 2031.