Reportedly, even the transactions of stainless steel are not very active in Taiwan’s domestic market by the coming of Chinese New Year holiday, market participants have still seen the positive outlook for the new quotes which will be released on January 28th for February delivery.

It’s predicted that Taiwan’s stainless steel mills would increase the prices by NT$3,000/ton for February delivery, supported by the sharply rising nickel prices.

It’s known that nickel prices at LME have begun to rebound from the end of last November and have ever reached over US$26,000/ton on 18th January.

Meanwhile, nickel average price was at US$23,000/ton in last December while it has reached US$25,200/ton in this January; thus, it’s predicted that Taiwan’s stainless steel mills would definitely increase the prices to reflect the increasing raw material costs.