Major Taiwan stainless steel mills like Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd. both increased 304 prices by NT$7,000-7,500/ton, stimulating a follow-up increase in the market.

Last week, 304 2B sheet prices reacted immediately with a price increase of approximately NT$3,000-4,000/ton compared to the previous level. The market expects stainless steel coil prices to follow after the market reopens today.

Since December of last year, Taiwan's stainless steel mills have raised prices for three consecutive months, totaling NT$13,000-13,500/ton, an overall increase of approximately 22%.

Industry insiders say that after observing the new prices from other mills this week, the upward trend in market prices should be confirmed.