The London Metal Exchange (LME) nickel price is currently standing above the US$20,000/ton level, which strongly upholds stainless steel prices.

According to market participants, the gradual release of demand during the peak season in the fourth quarter is likely to boost purchases in the market. Besides, with the rising trend of nickel prices, Taiwan’s stainless steel market will continue to be driven in the fourth quarter.

It was expected that stainless steel mills’ revenue will grow as the upstream stainless steel plate prices rise sharply and downstream sales have increase as well.