Taiwanese upstream stainless steel mills announced the October rate last week. Despite poor market conditions, Tsingshan Stainless still raised prices before the new rate announcement, and it increased again this week. With the U.S. interest rate cuts and China's bullish financial policies, raw material, and steel prices began to rise, and LME nickel prices rebounded and continued to increase.

However, Taiwanese mills and downstream manufacturers consider that this wave of price-up may not be reflected and raise their offers. Some market participants pointed out that they are not sure whether the current blooming situation will continue after China's long holiday. The prices of upstream and downstream have reached a relatively low point. The increase in Tsingshan Stainless has supported the price trend, and the order-receiving situation is also expected to improve.