The London Metal Exchange (LME) nickel price has stopped rising recently, holding at US$27,000/ton. Due to high raw material costs, Taiwanese stainless steel mills were expected to raise prices for February at the end of January. Taiwanese stainless steel supplier customers increased their transaction prices by USD 30/ton this week.
Given the low demand before the Chinese New Year holiday, the downstream customers stopped taking orders and preferred to sell at good prices after the holiday.
In addition, stainless steel prices in China also increased ahead of the holiday. Optimistic attitudes were displayed that stainless steel prices would be supportive in February.
Comments
No comment yet.