Indonesia Tsingshan has issued another price increase on its 304-grade stainless steel exports, lifting the figure by US$15 per ton, which brings total increases since the start of March to US$65 per ton, equivalent to roughly NT$2,080 at the current exchange rate.

The timing is significant, as Taiwanese upstream stainless steel mills are scheduled to announce their April prices next Monday. The Indonesian stainless steel producer's repeated upward revisions are expected to lend support to domestic pricing decisions.

That said, mills face a delicate balancing act. Raw material costs are rising, yet actual market demand remains soft, creating a disconnect between optimistic expectations and on-the-ground trading conditions.