Taiwan’s export offers for stainless steel rose sharply during China’s National Day holiday, pushing up prices across the Asian market. According to market sources, with China closed, Taiwan took the opportunity to increase export prices, leading to higher prices for Asian stainless steel cold-rolled coils.

Despite the price hike, market demand remains subdued, with buyers focusing on purchasing based on demand. On the raw materials side, LME nickel futures climbed to US$15,433/MT on October 3, up about US$250/MT from the previous week. China’s nickel pig iron prices were stable at CNY955, having gained CNY15 over the past four weeks and CNY55 in two months.

Market participants said raw material prices remain firm, but downstream demand shows little improvement. They expect Asian stainless steel cold-rolled coil prices to stay volatile in the near term.