Tsingshan Holding Group, a major supplier in the Asian stainless steel market, has been raising prices since July, with a cumulative increase of more than US$110/ton. Coupled with the company's maintenance shutdown in Indonesia to adjust supply, the move has brought upward momentum to the global steel market.

As a result, leading Taiwanese stainless steel producers Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd. are expected to follow suit. Market participants expected that their September prices could see an increase of over NT$2,000/ton.

This trend has led to optimism for the traditional peak season in the fourth quarter. Although demand remains a crucial factor, the rising prices and a more favorable market atmosphere suggest a positive outlook for the stainless steel sector.