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Writer's picture鋼鐵 東育

The Nickel Effect: How Rising Prices are Shaping the Future of Stainless Steel

The stainless steel market is experiencing a revival due to soaring international nickel prices. Manufacturers in China and Taiwan are expected to announce increased prices in the upcoming May price lists. Consequently, market analysts predict a continued upward trend for stainless steel in the short term.


There are two primary factors contributing to this rising trend:


Firstly, the price of nickel futures on the London Metal Exchange (LME) remains high, reaching a seven-month peak on April 22.


Secondly, the recent depreciation of the Chinese Yuan and the Taiwanese Dollar has further increased import costs for steel mills. Therefore, upstream steel manufacturers may raise their prices for May.


Additionally, prices for stainless steel futures in Mainland China and cold-rolled stainless steel coils in Asia have also risen. Despite weak domestic demand, the export market remains robust. With nickel prices stabilizing at high levels, the market anticipates the stainless steel trade will continue to strengthen in the near term.

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