Stainless steel rises with nickel prices, optimistic to H2 2019
28 Jun 2019 15:30 reported by Jordan Huang
According to two main stainless steel manufacturers in Taiwan, Tang Eng Iron Works Co., Ltd. and Yieh United Steel Corp. (Yusco) both announced to increase the stainless steel price for July on June 27th, the market was optimistic about the market outlook.
Based on the increasing material cost because of the depreciation of the Taiwan dollar, and stable nickel price, both pushed the upstream supplier to increase their price.
In the past full month, the nickel price had increased approximately US$220/ton, near to US$13,000/ton, came to the recent highs.
Looking forward to the second half of this year, many of the steelmakers said that the most important factor still was the price of nickel.
If the nickel price kept stabling, the steel industry could welcome the arrival of the fourth season in peace without any worries.
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