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Rising nickel price supports Taiwan’s stainless steel prices

28 May 2020 13:21 reported by Joy Liu

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Despite a sluggish market demand, Taiwan’s stainless steel prices were supported by the rising nickel prices amid a recovering global economy. Besides, due to the higher costs of raw materials from upstream suppliers, the new market price for June of Taiwan’s stainless steel mills was expected to rise, which will be the two consecutive months' increases in prices.

So far, the average nickel price in May has risen by US$1,000/ton compared to the previous month, and the price of chromium also significantly climbed this month.

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