Asian cold-rolled stainless steel price increases on rising nickel price

Last week, the price of stainless steel cold-rolled products went up in the Asian market. Meanwhile, cold-rolled prices in the Chinese domestic market continued fluctuating. Although the price of cold-rolled stainless steel is slightly higher than the previous week, the market perspective remained uncertain due to the increased production and factory deliveries.

Currently, the price of cold-rolled products is supported by the cost of raw materials, including nickel. However, in order to guarantee profits, some traders are now accelerating the sales of their stocks.

As for steel factories in Taiwan, they preferred to update the quotation this week after evaluating the market situation since they don‘t have sales stress at the moment.