China's stainless steel prices hike after holidays
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Update time : 2022-10-11 17:13:00
LME nickel prices rose to US$22,782/ton last week. It was the highest level since the end of September.
Stimulated by this, the price of 304 cold-rolled coils was up by CNY100-200/ton in China. Taiwan's stainless steel mills increased prices in early in October and the transaction prices also soared.
However, Taiwan's domestic demand still remained weak and didn't have many orders before the national holidays last week. After the holidays, it will need time to observe the nickel price and the demand from the international market.
Entering the Chinese New Year holiday, market trading is sluggish
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