Taiwan's upstream stainless steel mills are expected to raise their prices by NT$2,000-3,000 per ton for April, following a cumulative increase of NT$15,500 over the previous four months, and five consecutive months of increases thereafter.

Multiple cost pressures are converging simultaneously. The Middle East conflict has pushed up energy and freight costs, and Indonesia's new nickel export tax has driven nickel prices higher. LME nickel futures are hovering near US$17,300, with the monthly average edging above March levels. Chinese nickel pig iron and high-chrome prices have also firmed.

On the currency side, the New Taiwan dollar has weakened to 31.905 against the US dollar from 31.251 at the end of March, lifting import costs further. Besides, Indonesia Tsingshan's stainless steel export prices continue rising, adding pressure on raw material procurement costs.