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According to Yieh.com, after Taiwan's steel mills raised prices, market prices for stainless steel rose correspondingly. Market participants note that this is mainly due to the increase in export duties from China and Russia.
China has previously canceled the export duty exemption. While no date has yet been set for the next increase in export duty, the likelihood is high. As for Russia, it has been determined that within 5 months from August 1, an export duty of at least 15% will be levied on all metals and steel products.
Market participants said that while domestic demand in Taiwan is sluggish, export orders from steel mills are still good. Combined with the imposition of export duties by China and Russia, the market outlook is optimistic and the stainless steel market is expected to remain stable after growth.
