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Taiwan's stainless steel wire rod mills stop offer as nickel up-The 17th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
3/9/2016 Stainless Steel Industry expo |
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The LME nickel price rebouded to US$9,000/MT last Thursday. This is the highest price level since end of November, 2015. The LME nickel price reached to low price level of USD7,595/MT on Feb 11. After that, the ncikel price keep going up.
Stimulated by this, downstream customers purchased for its stock. In addition, the oil price increased by 20% so far. Taiwan''s Yieh Hsing and other wire rod producers have received lots of orders and forced to stop offer currently.
It is expected that the stainless steel wire rod worst situation already passed. And the price might stand firm and demand will be improved as long as nickle prices continue to rise
-The 17th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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