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Stainless steel market improves as nickel prices shoot up

19 Jun 2008 15:20 reported by Kaka Shu

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Taiwan’s stainless steel market seems to be improving as the nickel price has remained stable at US$24,000/ton since last week.

Due to the impact of diminished production by stainless steel producers and sluggish demand, the nickel price has dropped by almost 50 percent from US$51,600/ton in May of last year.

Fortunately nickel prices have rebounded, bolstered by the shutdown of Kalgoorlie Nickel Smelter in Australia. Encouraged by this, the price of stainless steel market is showing an upturn.

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