Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, announced its new prices for August today (July 30).

According to the price adjustment, 304 hot-rolled and cold-rolled prices were both raised by NT$2,500/ton, and the base price of 430 and the surcharge of 316 were kept unchanged.

As for the export price, 304 was hiked by US$80-100/ton, 430 was up by US$30/ton, and the surcharge of 316 was kept flat.

The price adjustment was higher than market participants’ expected. Yusco said that the move was to mainly partially reflect the increase in raw material costs and due to more stable market prices and transaction volume.