04 Apr 2015 Last updated at 05:29:27 GMT

TAIPEI (Scrap Monster): One of the major stainless steel producers in Taiwan, Tang Eng Iron Works said that the company would follow up with Yusco’s Step and would increase its new offers process for stainless steel for June.

As per the new price announcement of the company, they decided to raise the price for 300 series stainless steel hot rolled products by TWD 8,000 per tonne, 300 series stainless steel cold rolled products for TWD 9,000 per tonne. They will also hike the price of 201 stainless steel HR products by TWD 1,000 per tonne and for 201 stainless CR products by TWD 1,100 per tonne.

It also includes the hike in price of 20 stainless steel HR products by TWD 4,000 per tonne and CR products by TWD 4,500 per tonne. The main reason behind the Tang Eng’s decision is the raising LME price for nickel.