Stainless steel price faces strong support
According to the market price of stainless steel, Yusco, the largest stainless steel provider in Taiwan, announced its latest selling price on January 28th, with a significant increase of NT$5,500-6,500/ton.
Moreover, the market participants expected it would cause the other stainless steel mills to increase their prices, too.
Among them, the main reason for the strong price of stainless steel recently was supported by the high-nickel price in the London Metal Exchange, with around US$17,000-18,000/ton, which was a relatively high class in the recent period, and it also better than market's expectation.