The London Metal Exchange (LME) nickel prices recently surged to nearly US$19,000/ton, yet registered inventories simultaneously jumped to 275,600 tons. This two-day increase of 20,000 tons pushed stockpiles to their highest level since 2018. Market participants said this price growth was due to speculative activity rather than real demand, as high warehouse inflows indicate a supply surplus.

In Taiwan, 304-grade cold-rolled stainless steel stayed at NT$60 per kilogram after an early-week increase. Although upstream mills raised their prices, the retail market remains steady while traders monitor recent price pullbacks. Future trends depend on whether consumption can match rising supply or if profit-taking will drive prices lower.