Indonesia Tsingshan raised 304 stainless steel export prices by US$50 per ton last week, driving up procurement costs for hot-rolled black coils. Although stainless steel scrap outlooks remain bullish due to limited supply, domestic mills face shrinking profit margins. These manufacturers struggle to balance high raw material expenses with recent weak orders, complicated further by a weakening New Taiwan Dollar.

As a result, steel mills hope to keep scrap purchase prices steady to maintain operational viability. However, a standoff persists as scrap dealers resist selling at previous rates, anticipating even larger price increases.

While some suppliers are withholding inventory, mills find it difficult to secure sufficient volume without raising bids. Market participants now look toward April price lists to see if costs will pass down the chain.