According to the market information, the nickel price came to nearly US$25,000/ton this week, which was a nearly 11-year high.

The Ukraine-Russia crisis was the main factor to push the raw material price skyrocketing in these few days, and which has also stimulated the market demand of stainless steel.

From the forecast by some of the market participants, the strong nickel price might drive profit of the upstream stainless steel mills, such as Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd.