Meanwhile, the LME nickel price kept going up these days. The stainless steel prices increased sharply in China yesterday. The nickel prices were expected to remain stable, and the demand might increase due to the coming long holiday during September/October in China.

Affected by the government policy, many stainless steel manufacturers in China will have restrictions for production. At the same time, the current stainless steel inventory is low in China. After the limited production, the supply will be tight.

Stimulated by the price up in China, Taiwanese stainless steel demand might be improved. Market participants said nickel prices are optimistic in the short term and the cost of stainless steel is supportive. However, it still depends on whether the demand is boosted and the stainless steel price continues to hike further.