Affected by the weak LME nickel prices and the slowly global market demand, the two major stainless producers in Taiwan Yieh United Steel Corporation and Tang Eng have announced to cut their July 2012 prices recently.

After that, most of Taiwanese steel rolling mills and service centers said they will follow up with upstream mills' step to cut their offer prices as well.

YUSCO said that the firm expected its received order volumes in this Q3 might be worse than that in the Q2 2012.

Meanwhile, Tang Eng said that the company has to list the lost from its in stock inventory.

Due to the weak market demand, some Taiwan mills said their current shipping volumes were less than 50%.

Source - www.yieh.com)

(www.steelguru.com)