China Taiwan’s stainless steel mills may increase prices for Nov
Time:Thu, 27 Oct 2022 09:34:54 +0800
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LME nickel price rebounded to US$22,000/ton recently. China's Tsingshan Holding Group increased its stainless steel prices by CNY 300-800/ton yesterday (October 25). However, the nickel stock fell to 52,908 tons. Affected by the above, China's market price hiked.
China Taiwan's leading stainless steel upstream manufacturers will announce new prices for November end of this month. According to the above factors, it was expected that Taiwan's stainless steel mills might raise their new prices by about NT$3,000/ton for November.
However, the demand is weak now and customers didn't have obvious purchases. If the price remained high in November, it might make the demand worse. The stainless steel price might be supported only when the nickel price reached NT$25,000/ton.
