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.
Taiwan-based YUSCO decreases stainless steel export offers
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Stainless Stainless products China Far East East Asia and Pacific Steelmaking Trading Production Economics Consumption
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