Stainless Steel Me

Taiwan’s Yieh United Steel Corp. (Yusco) has announced that it will add US$100~150/ton on the 300 series stainless export prices, and NT$3,000/ton for domestic prices, effective from April 16th.

Yusco cut its price at the end of March as demand was weak and nickel price was low. However, with the price of nickel remaining stable at around US$10,000/ton from the last week of March to last Friday and nickel stocks falling for the week, demand for stainless steel has apparently improved.

The company expressed that the stainless steel stocks held by mills have been reduced to their lowest level and global manufacturers have reduced their output. Recently, resurgence in demand has helped the market price to rebound.

Asian stainless activity seems to be improving. China’s Taiyuan Iron & Steel Corp. (Tisco) also announced a price rise of RMB500/ton on CR stainless, and RMB700/ton for HR stainless. Korean stainless mills are also mulling hiking their price by US$50~100/ton for May-June due to higher nickel price and stable exchange rates.

Japan’s NSSC is said to be raising its capacity utilization to 50 percent in the second quarter from 40 percent in the first quarter. Besides, China’s Jinchuan Group has raised its nickel price 3 times in a month. Buyers are willing to discuss prices now, unlike the lack of response before, said maker participants. This follow recent price increase announcements in Europe and anticipated rises in surcharges.