Market insiders indicated that upstream Taiwan stainless steel mills are expected to announce higher opening prices for February, marking the third consecutive month of increases.
From a raw material perspective, LME nickel prices surged again last Friday, with futures prices closing at US$18,765/ton, breaking through recent highs and reaching a new high in 19.5 months.
Indonesia’s Tsingshan Stainless Steel has repeatedly raised its export prices, with three increases this month alone, totaling a significant increase of US$140.
It is highly expected that Taiwan stainless steel prices for February may increase by at least US$150-200/ton.