Asian stainless steel cold-rolled coil prices have risen for the third time recently, pushed by a significant growth in global nickel markets. Although 304 cold-rolled coil prices previously dropped in late November, they recovered throughout December and rebounded again last week. Both Taiwanese and Chinese exporters raised their offers in response to higher production costs.

Raw materials are driving this trend, with LME nickel spot prices and Indonesian nickel pig iron both seeing substantial weekly increases. Chinese ferronickel and domestic futures contracts also rose sharply, with a significant jump over five weeks.

Although the upcoming Lunar New Year keeps buyer demand cautious, supply chain volatility in Indonesia supports a firm price outlook for Asian stainless steel cold-rolled coils in the near term.