The London Metal Exchange's (LME) nickel price increased sharply these days.

Stimulated by the high nickel price, global stainless steel giant Tsingshan Indonesia had announced to increase its stainless steel export price by US$30/ton on July 16th. This was the fourth time that Tsingshan Indonesia hiked since the end of June. The total increase this month was US$100/ton.

In order to offset the high raw material cost, most Taiwanese stainless steel mills might decide to increase their prices by at least NT$3,000/ton for August.