Reportedly, Chinese largest stainless steel producer Taigang Stainless announced to boost its stainless production by around 10% to 3.4 million tons in 2013, bring pressures to the Taiwanese steelmakers.
It's known that Taiwanese stainless producers have faced fierce price competition against the cheap offers from China due to oversupply.
According to statistics, Taiwan imported 908,176 tons of stainless steel products in 2012. Among them, around 50% were imported from China and Taigang Stainless was the major supplier.
Dealers worry about that the oversupply would worsen the market.