Taiwan’s stainless steel market to be supported by rebounded nickel prices
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Update time : 2023-05-08 16:44:01
Driven by the rebound in China’s stainless steel prices and the weakening US dollar, the international nickel price has recently risen back with an increase of nearly 7%, which supports Taiwan’s stainless steel prices.
According to experts, affected by high inventory and sluggish demand, nickel prices had dropped since late April but rebounded after being stimulated by China’s policy of production cuts, higher stainless steel prices, and weaker dollars.
For the outlook, Taiwan’s wire rod leading supplier Yieh Hsing said it is still necessary to observe the trend of nickel prices, the destocking of stainless steel, and whether the overall demand will become strong.
