Reportedly, Taiwan’s stainless steel market has remained sluggish though the nicked prices have rebounded to US$26,500/ton in the past one week.

It’s known that the prices of nickel futures for delivery in 3 months have hiked to US$26,500/ton in the last week of April at LME. However, the rising material costs still can’t support the stainless steel market.

Taiwan’s Yieh United Steel Corp. (Yusco) has announced to cut the prices of stainless steel products for domestic and export market to reflect the actual market situation.

However, some Taiwanese dealers pointed out that the upstream steel mills price cut for the stainless steel product still can’t compensate the price competitiveness against the imports they faced.

It’s said that the cheaper imported material against have bring the price war into Taiwanese stainless steel market.