Taiwan's leading stainless steel mills will announce the new prices for February next week. LME nickel futures and spot prices remained at US$16,266/ton during January.

Indonesia's Tsingshan increased the prices gradually due to the supply reduction and few inventory. In the meantime, many steel mills are scheduled to have maintenance during February.

According to understanding, mills' offers and transaction prices are both at the bottom. Therefore, mills may not drop the prices for February. As a result, it is expected that mills might try to maintain the prices or increase in order to offset the raw material costs.