[SMM Stainless Steel Flash] Aperam's Stainless Steel Earnings Strengthen in Q2 2026 Amid Higher Prices

The European Commission launched a targeted public consultation on July 28 to gather stakeholder views on the product scope of the EU Steel Regulation, marking the first review of whether additional steel products should be brought under the regulation's trade measures — less than a month after it entered into force on July 1, 2026. The consultation runs for eight weeks until September 28, 2026. Four product categories are under review: tubes, pipes and hollow profiles of cast iron; non-alloy and other alloy wire; stainless steel wire; and non-alloy and other alloy forged bars. Input is invited from steel producers, users, traders, importers, and industry associations. The Commission is required to complete its assessment by December 31, 2026, after which it may decide whether to amend the regulation's product coverage.

Tang Eng Iron Works raised its August prices for primary 304 hot-rolled and cold-rolled coils by NT$1,500/ton, matching Yusco's adjustment and marking a second consecutive month of upward price revisions for stainless flat rolled products. The company also lifted 316L surcharges by NT$2,500/ton. In contrast, Walsin Lihwa held its 304 stainless steel wire rod prices flat for a second straight month, highlighting divergent pricing strategies among major upstream mills for August plate and wire rod products respectively.

Driven by rising production costs, Chinese Taiwan's upstream stainless steel mills announced higher August prices despite weak demand and subdued purchasing activity caused by heavy rains in July. LME nickel futures rebounded above USD171,000 and the New Taiwan Dollar depreciated to 32.45, creating severe cost pressures. Market participants noted that the pricing strategy strongly reflects an intentional move to support prices and prevent further market declines. Future market stability will depend closely on ongoing inventory reduction progress as well as external conditions including tight nickel supplies and elevated shipping rates.