Taiwan's stainless steel mills announced their prices for November and the increase was not as high as market expectations.

According to the mills, the raw material cost still remained high and they also considered the high inventory. They adjusted the price slightly for November. However, China's power rationing measures made the supply tight.

Besides, European mills increased the energy surcharge by EUR 130 to 200 for the high energy costs. Taiwan's mills decided to moderately reflect raw material costs by raising prices for November.

After that, downstream customers might have more competitiveness in the export market. It was expected that the export performance will be good during November/December.