Taiwanese stainless steel market sluggish on weak demand, soft nickel prices
Reportedly, the Taiwanese stainless steel market remained sluggish last week, affected by dropped nickel prices and soft demand.
The nickel prices at LME dipped to the three-month low of US$18,900/ton on March 7th.
Also, the nickel prices have dropped by around 10% since February, causing stainless steel mills cut the prices or reduce production to pass this tough period.
It’s known that Taiwanese stainless producers cut the domestic prices by NT$2,000/ton for March.
For the prospect, industry insiders indicated that the stainless steel market might remain weak in the short term unless the demand rebounds and nickel prices rise.
News Date 13 Mar 2012 10:04:21 reported by Nann Cheng