Supported by China’s policies and rebounded nickel prices, Taiwan’s major upstream stainless steel mills, Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., were expected to raise or maintain their prices for August.

China's central bank cut a short-term policy interest rate last month and announced several administrative measures such as tax breaks, lowering interest rates, and rescuing the economy through loose monetary policy. Besides, the international nickel price has recently rebounded, upholding the stainless steel prices in China. Prices of 300 series had an increase of CNY 100-150 per ton in recent days.

Market participants said Taiwan’s upstream suppliers are likely to hike or keep their prices flat for next month under the boost of market confidence. In addition, the operating performance of downstream mills, such as YC Inox, Ta Chen, and Sinkang, will benefit from the recovering market.