The international nickel prices have been rising in the second quarter. The LME nickel spot price has risen from US$16,000/ton (March) to US$18,000/ton (June). Currently, it remained high at US$18,000~19,000/ton.

Taiwanese stainless steel mills were expected to increase the new prices for August this week. Stimulated by high nickel prices, Indonesia Tsingshan might hike the price by at least US$150/ton. Market participants said that stainless steel prices were expected to rise further in August.

In addition, the price of chromium has increased recently. The stainless steel upstream mills were forced to increase prices in order to offset the high raw material costs.

Taiwan's Yusco and Tang Eng will announce the August prices soon, and it was expected that the price will be increased by at least NT$4,000/ton due to strong demand from the US and Europe.