Taiwan’s stainless steel mills benefit from surging nickel price
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Update time : 2021-09-13 21:10:48
Besides, the export offers of hot-rolled coils (HRC) from China’s TISCO and Indonesia Tsingshan had risen since September, a cumulative increase of roughly US$200/ton.
According to stainless steel experts, the recent surging international nickel price was mainly due to the sharp increase in demand after the epidemic prevention measures were eased in Europe and America, the soaring demand for batteries used in electric vehicles and new energy vehicles in China, as well as the decrease in the LME nickel inventory.
Stimulated by the above-mentioned factors, Taiwan’s major stainless steel upstream suppliers, including, Yieh United Steel Corp. (Yusco), Tang Eng Iron Works Co., Ltd., and Walsin Lihwa, were expected to have a bullish market in the future.
Other relevant stainless steel mills, such as Yieh Hsing Enterprise Co., Ltd., Ta Chen International, and Yuen Chang, had good performance in receiving orders. Therefore, it was expected that their fourth-quarter performance will continue to be strong.
