LME’s nickel price is expected to increase further by 4 percent, having reached about US$21,000/ton; it could benefit all stainless steel makers in the first quarter of 2010.

In fact, nickel price increased by about 15 percent during the Chinese New Year vacation in February. Two of Taiwan’s major stainless steel producers, Yieh Unied Steel Corp. (Yusco) and Tang Eng, have announced increases of their stainless steel prices for March due to the nickel price continuing to rebound.

Some of stockiests are waiting to see if the price of nickel can reach US$23,000/ton in the second quarter. Most stainless steel makers are optimistic about seeing their business recovering soon.