Tang Eng, one of the major stainless steel producers in Taiwan, has announced to raise its domestic prices for 300 grades stainless steel hot rolled and cold rolled coils by TWD 4,500 per tonne for October 2012.

Besides, the firm also decided to hike the export prices for 300 grades stainless steel cold rolled and hot rolled products by USD 160 per tonne for October 2012.

The official stated that the firm decided to hike the October 2012 prices in order to reflect the sharply rising nickel prices and better domestic demand.

It's known that the nickel prices have surged by around USD 2,000 per tonne since the beginning of September 2012.

Meanwhile, Tang Eng said that its capacity utilization rate at its Kaohsiung works might increase further beyond 80% as the firm saw the positive outlook for the stainless steel market this months and it expected the demand and prices would be improved.

Source - www.yieh.com)

(www.steelguru.com)