Surging nickel prices boost Asian stainless steel prices
Currently, international nickel prices exceed $24,000/mt. Meanwhile, ex-Japan offers to China for cold rolled stainless steel stand at the price level of $3,300-3,450/mt CFR, increasing by $100-150/mt as compared to one month ago. Taiwan-based Yieh United Steel Co.’s stainless steel export price for August is $3,350-3,400/mt FOB. Although South Korean’s mills have not given export offers, their price levels are expected to be at $3,450-3,500/mt FOB, based on the current trend of the nickel market. While demand for stainless steel in Asia is sluggish due to the rainy season, stainless steel prices are expected to increase further on the back of higher nickel prices.
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Stainless Stainless products Taiwan Japan China Far East East Asia and Pacific Manufacturing Steelmaking Production
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