Indonesia Tsingshan raised its stainless steel offers to Taiwan by US$30 on May 12, totaling a US$60 increase this month. This move aroused expectations that domestic upstream mills will increase their June prices by more than NT$2,000, possibly extending a price upward tendency to seven consecutive months.

Despite London Metal Exchange (LME) nickel prices falling back below US$19,000, Tsingshan maintains high quotes due to continuously rising iron ore and ferronickel costs. Taiwan’s mills face additional pressure from rising energy rates, freight costs, and upcoming summer electricity surcharges.

However, demand remains weak. Distributors report that buyers are cautious and only purchase for actual needs. Further price increases may suppress market activity and impact overall transaction volumes as downstream participants resist higher costs.