Nickel price rebounded on 27 March after a dip last week. Although this is just at the beginning of price recovering, it still gives positive signs for mills to bring up the stainless steel price. Last week the international nickel price fell sharply to USD 45,375/tn, while this week, it has come back to USD 45,700/tn on the 27th and will continue up to over USD 50,000/tn. Affected by the new nickel price, mills in both Taiwan and China are considering resettling the stainless price. Taiwan’s Yusco and Tang Eng Steel are very positive towards the rebounded nickel price and are likely to have a final decision of raising stainless steel price. Meanwhile, despite the nickel fluctuation, South Korea-based Posco has raised the stainless price twice and Japan-based NSSC also announced a price increase for their export and import prices by USD 340/tn.
