As the Philippines considers banning the export of raw mineral ores, the prices of Indonesian nickel ore have increased, and the transaction price of nickel iron has recently rebounded. In addition, the ferrochrome prices have rebounded after the holiday, leading to higher stainless steel costs.

After US President Trump announcing the 25% tariff on all steel and aluminum imported into the US on February 10, the trade war became more serious. 

Although steel mills kept the prices stable, the real demand still remained weak than expectation. After the holiday, it is expected that the construction will be increased. However, if the deamnd is not strong, the stainless steel price may be challenged.