LME nickel prices continued to rebound in June, and the highest point so far was at aboveUS$13,000/ton. Two of the leading stainless steel manufacturers in Taiwan, Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., both hiked their stainless steel prices for June.

As the price of nickel, major raw materials for stainless steel making, continued to rise, stainless steel prices will be supported in July accordingly. Besides, the gradual slowdown of the global COVID-19 epidemic will also help to boost the market in the second half of this year.

Separately, Froch Enterprise Co., Ltd., a downstream stainless steel processing plant in Taiwan, said that the rebound in the international nickel prices in the second quarter was expected to improve its operations, and the stainless steel market will be driven as the forecasted slowdown in the epidemic in the second half of the year.