Taiwan’s stainless steel mills will announce their new prices for February at the end of this month. Despite the current sluggish market demand, the depreciation of the Taiwan dollar has caused the cost of imported raw materials to rise. Therefore, the price of both stainless steel plates and wire rods is likely to be kept or raised for next month.

According to steel mills, although the demand is not strong now, price cuts cannot stimulate purchasing. Besides, there are fewer working days in February due to the Lunar New Year holiday, so the market demand will be relatively weak. It will be better for mills to take a wait-and-see attitude and then make adjustments after the holiday.