Taiwan's leading stainless steel mills will announce their new prices for August next week. Recently, LME nickel futures and spot prices increased to around US$15,500/ton. Also, China's stainless steel market has rebounded significantly due to government-favorable policies.
Overall, market demand still remains weak, and the international market has improved gradually. After Taiwan’s Yieh United Steel Corp. (YUSCO) filed the lawsuit, the import prices from Vietnam have not fallen further. In addition, the Taiwan dollar has stopped appreciating and has depreciated recently. Based on this, the August stainless steel prices from upstream steel mills are expected to stop falling.
