Stainless steel prices to surge again in June on higher nickel cost
23 May 2007 17:23 reported by Alex Tsai
Taiwan's Yusco is expected to raise stainless steel HR/CR prices again in June in order to offset the hiked nickel price due to its tight supply and strong demand.
Nickel price has been quoted as US$54,100/ton recently which caused pressure on upstream stainless steel mills.
Global biggest stainless steel mills including South Korean Posco and China's Tisco have announced to raise their prices for June.
Taiwan's Tang Eng said that it seems inevitable for an increase of NT$6,000 in June for the domestic market, if nickel price still stays at high levels.
To offset recent sharp increase of nickel, Outokumpu, Lisco and Posco have announced to produce ferritic stainless steel products.
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