Taiwan-based
stainless steel manufacturer Yieh United Steel Corporation (YUSCO) has recently reduced its
stainless steel offers for export markets by RMB 50-100/mt ($8-15/mt), pointing out that the nickel price at the London Metal Exchange (LME) has decreased by 13 percent since early March.
The company said in the statement: "The demand has not yet fully recovered and our customers are still quite cautious in terms of booking orders. In addition to the nickel prices, spot prices of
stainless steel in mainland
China market also affect our sales.'
Following Chinese New Year holiday,
stainless steel prices have reduced by nine percent in the spot market.
YUSCO's
stainless steel exports accounts for 35 percent of its total
production. The company produces 80,000 mt of
stainless steel products a month at full capacity.