Indonesian Tsingshan increases hot-rolled stainless steel coil prices
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Update time : 2023-02-15 18:09:00
LME nickel price rose above US$30,000/ton after the Chinese New Year and fell to US$26,487/ton yesterday. Affected by the weak demand, China's stainless steel prices decreased these days.
Although the LME nickel price and China's stainless steel price decreased, Indonesian Tsingshan still increased hot-rolled stainless steel coil prices by US30-60/ton to Taiwan.
Currently, Taiwan's stainless steel scrap price reached higher than NT$50,000/ton. However, using Tsingshan's materials to produce finished products is still relatively cheaper than using stainless steel scrap. Therefore, stainless steel manufacturers prefer to buy hot-rolled finish coils instead of scrap due to the cheap cost and high efficiency.
