Tang Eng, one of the major stainless steel producers in Taiwan, has followed up with Yieh Unite Steel Corp. (Yusco)'s step to hike its February stainless steel product prices.
Tang Eng's vice general manager said that since LME nickel prices have rebounded to the level of US$18,000/ton, it pushed end buyers to restart their purchase for stock.
Also, driven by the rising stainless steel market prices, Tang Eng's monthly output has bounced back to 20,000 tons.
It is said Taiwan's stainless steel offer prices may rise further in this March based on current market situation.