Taiwan’s stainless steel mills expected to raise prices for Nov due to increasing nickel prices
22 Oct 2020 14:27 reported by Joy Liu
LME nickel price has risen by nearly US$1,000/ton totally for five trading days in a row, and now it has reached the level of above US$16,000/ton. The average monthly price in October has also been higher than that in the previous month.
Coupled with increasing stainless steel prices in China, market participants expected that Taiwan’s upstream stainless steel mills will raise their prices for November, while the range will depend on the future trend of nickel prices.
Due to the tight nickel supply and optimistic market demand, the nickel price was predicted to keep steady in the future.
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