Although the Taiwanese stainless steel mills have announced to cut the prices for July 2012, the price cut is still below the expectation, causing the market prices drop further.

It's known that Yieh United Steel Corporation and Tang Eng, the two largest stainless steel producers in Taiwan, announced to reduce the domestic stainless steel prices by TWD 750 to TWD 1500 per tonne for July 2012.

However, the market participants expected the mills to cut the price more due to the current slack demand as they've cut the prices dramatically to buyers to gain orders.

It is said that some suppliers offered TWD 77,000 to TWD 78,000 per tonne for 304 2B base prices for domestic buyers.

Source - www.yieh.com)

(www.steelguru.com)