Taiwan’s stainless steel cold rolled prices to be raised for Nov due to increasing nickel prices
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Update time : 2020-10-27 16:13:52
Due to the increase of nickel prices recently, Asian stainless steel cold rolled prices kept increasing. Taiwan quotations have recently risen further by US$20/ton.
The London Metal Exchange (LME) nickel cash price has risen to US$15,707/ton, a total increase of US$1,020/ton in two weeks.
The international raw material costs remained high and China’s deal price continued to keep a high level. As the current inventory is not high, it was expected that the deal price in the market will be stable in the short term.
As the cost of raw materials, including nickel, have risen, Taiwanese stainless steel mills will raise their quotations in order to offset the high raw material cost.
