Asian Stainless Steel Prices Rise as Tsingshan Hikes Export Offers Again

In early August, stainless steel prices across Asia are rising steadily, largely driven by Indonesia’s Tsingshan Group—one of the world’s largest stainless steel producers—raising its export prices for 304 hot-rolled stainless steel for the second consecutive month.
 

Price Hikes from Tsingshan Group Impact the Region

Tsingshan has increased its export offers to Southeast Asian buyers by another USD $30/tonne, following a USD $40/tonne hike in July. Current offers are now between USD $1,720 and $1,750/tonne, with some quotes reaching as high as $1,790/tonne. While the highest prices may not be widely accepted in actual transactions, the upward momentum is clear.
 

What’s Driving the Stainless Steel Price Increase?

Several market factors are contributing to the increase in stainless steel prices across Asia:

• Rising raw material costs, especially for nickel pig iron, a major input for stainless steel production.
• Rebounding stainless steel prices in China, reflecting stronger domestic demand.
• Lower inventory levels at major warehouses across Asia.
• Strong pre-buying activity from European buyers ahead of the EU’s Carbon Border Adjustment Mechanism (CBAM) implementation in January 2026. European importers are accelerating purchases, quickly reducing available stock in Indonesia.

Effects Felt in Taiwan and Beyond

The impact of Tsingshan’s price hikes is already spreading. Major Taiwanese producers like Yusco, Tangeng, Walxin Lihua, and Tungmeng are reportedly evaluating price increases for September shipments. Meanwhile, markets in South Korea are also likely to feel the pressure in their October pricing strategies.

What This Means for Buyers

With demand staying strong and supply tightening, stainless steel buyers across Southeast Asia, Taiwan, and Korea should expect continued price volatility in the coming months. It’s increasingly important for purchasing teams to monitor market updates and secure material early to avoid supply disruption or higher costs.

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