World Stainless Steel Market Summary
Higher nickel costs to push up stainless steel prices – The nickel price on LME exceeded US$16,000/ton at the end of June. The price was hiked to US$16,495/ton on July 1st, but then fell to US$15,861/ton on July 6th. Taiwan’s Yieh United Steel Corp. (YUSCO) and Tang Eng have raised their stainless steel price by NT$2,000/ton for July, but domestic market activity remains relatively weak. However, for export market, buyers are actively replenishing their stocks under the circumstance of rising prices.
Korean stainless steel prices to raise – Since Korean Posco lifted the stainless price by US$200/ton as of June 29, other stainless steel producers in South Korea have begun to increase their prices one after another. BNG Steel has lifted the 300 series stainless steel prices by around US$250/ton on the previous price. Hysco also declared to lift the stainless steel prices of 300 series and 200 series by US$210/ton and US$190/ton respectively.
Source: www.yieh.com
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