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Stainless steel price to rise again in May

11 May 2007 16:16 reported by Hunter Deng

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At present, the nickel price on the LME still keeps staying at high level. The market participants say the stainless steel price for May will be increased again as long as the average nickel price is not less than US$50,000 per ton.

Comparing the current nickel cost with that of March, there is at least US$320/MT cost to be reflected in final stainless price.

South Korean Posco has announced to increase May price by US$375/MT.

And It is said that Taiwan mills intend to increase flat rolled stainless steel price by NT$12,000 to NT$15,000 per ton and NT$15,000 per ton at stainless steel wire rod.

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