Stimulated by increasing nickel price, the largest integrated stainless steel mill, Yieh United Steel Corp. (Yusco) announced to raise stainless steel prices again in March.

As a result, the domestic price of 300 series stainless steel is increased by around US$162/ton and that of billet is increased by about US$260/ton. The export price of 300 series stainless steel prices are raised by US$200 ~ 360/ton.

In addition, Yusco indicated the price increases weren’t enough to counter their elevated costs of nickel, and they will probably announce another price increase in April. Until last Friday, the average LME nickel price was US$32,500/ton, increasing by US$5,000/ton compared to that of US$28,000/ton in February.