According to the strong nickel price in global, Tang Eng Iron Works Co., one of the leading stainless steelmakers in Taiwan, announced to increase its stainless steel price for October by NTD$1500/ton for 304 series, and US$30/ton on 300 series for export, and kept flat for 316L series.

After the Yieh United Steel Corp. (Yusco), Taiwanese largest stainless steelmakers, announced to increase the price for October on September 26th, there were more and more stainless steelmakers decided to follow the trend.

As the global stainless steel market was very competitive, two of the leading stainless steel makers in Taiwan, Yusco and Tang Eng both decided to invest in Indonesia to mining nickel metal.