Following a year of double-digit revenue declines, Yieh United Steel Corp. (Yusco) and Tang Eng expect a turnaround in 2026.

Last year, Yusco’s revenue fell by 17.73% year on year, while Tang Eng had a 21.22% drop alongside fire-related production losses. However, the market landscape is changing as nickel prices climb above US$17,000 per ton and China implements new export controls to curb low-price competition.

Both companies raised January prices for 300-series products by NT$5,000 per ton, the largest increase in a year.

Market participants believe that global interest rate cuts and the EU’s carbon policies will benefit these manufacturers. If price hikes continue and raw material costs remain firm, these upstream giants could transition from deep losses to profitability this quarter.