Due to rapid rebound of nickel price on LME, stainless steel market has a surge of purchase in replenishing the stock, especially the stainless wire rod mills.

In early September, LME nickel price increased to US$29,500/ton, up by US$4000/mt from around two weeks ago. However, upstream mills like Yieh Hsing decided to decline their list price of wire rod by US$0.30/kg. Yieh Hsing got full orders afterwards, they said.

On the other hand, downstream mills would like to supply stock by low price. Processing manufacturers indicate they wish to place new orders even with the list price released in August if they cannot acquire the September's list price. Hence, wire rod mills are going to raise their new list price by around US$0.25/kg because of growing orders from downstream mills recently.