It was reported that Taiwan's domestic paint factories have decided to increase the price of engineering paint by 40% in September, so painted steel producers also intended to raise their prices. Before that, the painted steel products prices were hiked in July.

Yieh Phui Enterprise Co., Ltd. and Sheng Yu Steel Co., Ltd., two leading coating steel mills in Taiwan, said that the price of normal color-painted materials has increased by 10-20% in the second quarter of this year. Moreover, the paint factories recently planned to increase prices by 40% for polyvinylidene fluoride (PVDF) paint. The sharp increase in paint prices will force steel mills to face increasing production costs.

Due to these factors, engineering coated plate is now in a hot market. It is a kind of steel plate mainly used for large steel construction plants, accounting for about 1-2% of the sales of coated steel products.

Market participants indicated that the products have a special purpose and the supply is limited, so the market prices should be able to follow the price hike.