Due to low nickel market inventory and nickel price rebounding to the US$23,000/ton level, Taiwan’s stainless steel market price has rose back.

Currently, the price of 304 cold-rolled coils has bounced to around NT$68,000/ton, and 304 hot-rolled coils also hiked to roughly NT$66,000/ton, driven up by a significant drop in downstream buyers and distributors' inventory, as well as surged nickel prices.

According to market participants, the current market is not strong enough with high demand, but upstream stainless steel mills in Taiwan are expected to raise or maintain prices for next month. In the short term, the stainless steel market is projected to keep stable.