Tang Eng Iron Works Co., Ltd. (Tang Eng), one of the main stainless steel manufacturers in Taiwan, announced its new stainless steel prices for July yesterday (June 26th).

According to the announcement, the domestic prices of 304 hot-rolled coil and cold-rolled coil were increased by NT$1,000/ton and export prices of 304 hot-rolled coil and cold-rolled coil was raised by US$ 30/ton. Moreover, the surcharge of 316 products was kept flat.

According to Tang Eng, the LME nickel price remained stable at US$12,000/ton level and the Tsingshan Indonesia raised its export price by US$35/ton last week. Therefore, Tang Eng had to hike price in order to offset the high raw material cost.