Global metal markets are experiencing a surge as major supplier Indonesia's Tsingshan again raised export rates for hot-rolled products by US$30 per ton. This adjustment reflected tight controls on nickel supply and LME prices reaching US$18,700 per ton.

In response, Taiwanese upstream stainless steel manufacturers Yieh United Steel Corp. (Yusco), Tang Eng Iron Works, and Walsin Lihwa are expected to announce significant price hikes in the 304 series for February, with potential increases reaching NT$7,000 per ton, the third consecutive monthly rise.

These higher prices came after a 10% rise in nickel costs over the past month. Local producers already implemented consecutive hikes since December last year to manage raw material expenses.

Although the upcoming Lunar New Year might temporarily slow procurement, market participants expect the market to remain strong due to post-holiday restocking demand.

Downstream firms, including YC INOX and Sinkang Industries, also prepare to adjust their prices, indicating a positive outlook for the stainless steel sector’s revenue.