Taiwan's stainless steel manufacturing cost increases
LME nickel prices remained at a high level these days. Taiwanese dollars also depreciated sharply against the US dollar, which pushed the purchasing price to go up from stainless steel mills and coil centers.
In addition, Indonesia's Tsingshan hiked the price further by US$60/ton currently. Affected by the above factors, Taiwan's stainless steel mills might be forced to raise the price for May. The price of cold-rolled stainless steel coils in Taiwan has already risen by US$30/ton this week. The demand in the market is expected to improve, and the new price for May will be supportive.
