Yieh United Steel Corp and Tang Eng Iron Corp. wire material price biggest decreased in June, 2022. 

Yieh United Steel Corp and Tang Eng Iron Corp. wire material price biggest decresed in June, 2022. 

From:Commercial Times 2022.05.31

https://ctee.com.tw/news/industry/651810.html

Attacked by ongoing war between Russia and Ukraine and China lockdown, these factors influence demand has slowed down and prices in the international market have fallen. Affected by above, leading stainless steel manufacturers Yieh United Steel Corp. (9957) and Tang Eng Iron Corp. (2035) decided on the 30^th May, 2022 to lower the price of stainless steel in June. Among them, the domestic sales price dropped by NTD7,000 per ton, Yieh United Steel foreign sales price was lowered by 50-250 US dollars per ton, and Tang Eng Iron’s price was revised down by 150-260 US dollars per ton, the decrease range was slightly larger than Yieh United Steel. This best price was not only the second time to drop down within May, but the biggest drop adjustment in this year.

Regarding Yieh United Steel price cut, stainless steel pipe YC Inox Corp. (2034) and other related manufacturers said that if international nickel price has not rebounded a little in recent days, the lower range may be further expanded. It is acceptable currently, and has been decrease in advanced also.

 Yieh United Steel said that due to Russian-Ukrainian war keep firing, US interest rate hiking, and China closed-control implementing, they was affected by global supply chain as well stainless steel demand became to slow down in international market. So it effects domestic market price down will to disrupt dealers receive orders. However, the production cost of steel is still rising monthly. After considering the domestic and foreign market factors and the current situation in dealers, Yieh United Steel decided to adjust the prices of various products that sold in Taiwan and out abroad in June. Part of domestic sold price, 304 series stainless steel products, Down NTD7,000 per ton, 430 series stainless steel products fell NTD1,500 per ton, and 316L products maintain the same as last month.

For the export price of Yieh United Steel, the price of 304 series stainless steel products in Japan remained flat, and the price of other countries decreased by 100 to 250 US dollars per ton; 430 series stainless steel product is maintain same in Japan, other countries for this are drop down 50 US dollars per ton, 316L product is maintain level.

Tang Eng said that the company's June list price of 304 cold and hot rolled has been reduced by NTD7,000 per ton, and the 316L price has remained flat. The base price of 304 cold and hot rolled for different export regions is reduced by 150 to 260 US dollars per ton.

In addition, Yieh Hsing Enterprise Co,Ltd (2007), a large stainless steel wire reel factory, will announce a meeting on the 31^st May, 2022 to expect moderately reduce the price.