Reportedly, Yieh United Steel Corp. (Yusco), one of the major stainless steel producers in Taiwan announced to cut its list prices for stainless steel products for June.
The company decided to cut domestic prices by NT$500~NT$2,000/ton and reduce export prices by US$20~US$50/ton.
It's known that Yusco cut domestic prices for 300 and 400 grades by NT$2,000/ton and NT$500/ton respectively.
Yusco pointed out that low-priced imports from China and Korea are dumped into the market, causing the market prices continuously fall.
Therefore, Yusco decided to cut prices in order to help buyers remain competiveness.