According to the announcement from Yieh United Steel Corp. (YUSCO), the largest integrated stainless steelmaker in Taiwan, the strong nickel prices might push the stainless steel prices to hike sharply next month.

By the news from the market, the nickel prices in the world faced almost 10% increment on April 15th, which shocked the stainless steel market, and also stimulated much potential demand.

Although nickel only counted as around 8% ingredient of the final product, stainless steel, the cost was accounted as around 50%, that’s the reason why the nickel price was so important to stainless steel price.

Based on that, the market expected the stainless steel prices for May in Taiwan might turn strong.