Rising raw material costs and tight supply chains drove stainless steel prices upward in March 2026. In Taiwan, stainless steel mills like Walsin Lihwa, Yieh United Steel Corp. (Yusco), and Tang Eng increased their prices, with 316-series products rising by NT$4,000 per ton and 304-series up by NT$2,000 per ton.

Besides, Japan had hikes of 15,000 to 20,000 JPY for 300-series products due to higher electricity and nickel costs, and South Korean prices also climbed by 150,000 to 200,000 KRW.

Supply issues in Indonesia and geopolitical tensions in the Middle East influence these trends. Japanese semiconductor and automotive sectors provide stable demand, South Korean shipbuilding lifts the 316-series, but Taiwan relies heavily on exports.

Further price increases are expected in April as Taiwanese mills react to higher Indonesian export rates, making actual demand the deciding factor for whether distributors and end-users continue to restock.