February 8, 2011
The Nickel price has broken US$28,000/ton on the LME to reach the highest record in the past two years after Chinese Lunar New Year.
Market analysts believe the price of stainless steel will jump up sharply due to rising cost on raw materials.
It’s known that the nickel price hit US$26,000/ton in the end of January; thus, Taiwan’s major stainless steel mills such as Yieh United Steel Corp. (Yusco), Tang Eng and Walshin Lihwa have announced to raise the stainless steel prices accordingly.
So far, the current inventory of stainless steel has been at low level. It is expected that buyers would return to market to purchase after Chinese Lunar New Year.
News Source www.yieh.com
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