It was heard from China’s industry that the State Council of China may impose additional steel export tariffs on July 1, especially products whose 13% export tax rebate was canceled previously, including stainless steel, hot-rolled coils, cold-rolled coils, and wire rods.

According to Taiwan’s wire rod industry, the inquiries from the domestic and foreign markets have increased with much higher order volume than normal in the past few days. Due to the current high cost of raw materials, Taiwan’s steel mills would rather take a wait-and-see attitude until the policy is clearer.

Under China's successive export restrictions, Taiwan’s stainless steel market price for June will face more uncertainties.