Following US President Donald Trump’s announcement of reciprocal tariffs on April 2, most international base metals experienced significant declines. However, nickel prices have rebounded strongly, rising by nearly 10% within a week, the most robust among all base metals.
As of 2:00 AM Taipei time on April 17, the London Metal Exchange (LME) nickel futures were quoted at US$15,605/ton, which have risen by six trading days in a row. This upward trend was expected to positively influence the stainless steel market’s future outlook.