Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream suppliers in Taiwan, will successively announce their prices for June next week.

Due to stronger market demand and higher raw material prices, including nickel, chromium, and stainless steel scrap, market participants expected that the increase will be at least NT$8,000/ton.

According to market participants, after China canceled the 13% export tax rebate on hot-rolled and cold-rolled stainless steel flat-rolled products and wire rods on May 1, the international market started to face the reduction in supply, and steel prices were boosted accordingly.