China started to implement a new export tax rebate policy on May 1, including the cancelation of a 13% export tax rebate on stainless steel products, which blocked China’s stainless steel exports. Therefore, Taiwan benefitted from the policy as many export orders transferred to other countries, including Taiwan.

Driven by the increasing export orders, Taiwan’s stainless steel export prices have surged by US$300-400/ton within half a month.

Due to strong demand from Europe and America, the weakening competition from China, and the expected price increase of stainless steel for June, Taiwan’s export prices were pushed up accordingly. The new price for this week has been hiked again with an increase as last week.