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Yieh United Steel (Yusco), Taiwan's biggest mill, has cut its export prices for 300-series stainless steel by $30 per tonne from early September levels.

"Demand is not good as traders and users are buying at small volumes. In past years, users would start stocking up for Christmas, but so far I do not see such demand coming up," a Yusco official said.

"We are incurring losses at the current price level, so it is not likely for us to cut prices further," he said.

Yusco is offering 304 2B 2mm cold rolled coil at $3,270 per tonne cfr mainland China, South Korea, Japan and Europe for October delivery, with hot rolled coil prices around $100 below this.

Its export price for 430 2B 2mm cold rolled coil price remains at $1,500 cfr.

Yusco exports around 35% of its output and some 30% of exports are 400-series products. Its operation rate remains at 95% in September.