Marker of Stainless steel upheld by soaring nickel prices
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Update time : 2021-07-27 18:28:55
The international nickel price has to the US$19,800/ton level nowadays, with a cumulative increase of more than 8% within a month. Supported by the boom of the stainless steel market, Taiwan’s major stainless steel mills, including Yusco, Tang Eng, and Walsin Lihwa, were expected to benefit from the strong market.
Nickel, as the most important raw material for stainless steel, is very hot in the current global electric vehicle market, which is also upholding the stainless steel market.
In addition, with the increase in global demand, the LME nickel inventory has dropped significantly. Coupled with the support by the new energy sector, the international nickel supply gap is hard to be filled in the short term, and the market was expected to keep stable.
