October 16, 2008

Taiwanese SS scrap price sure by 12% in January

It is reported that after the sharp drop of nickel price in December 2007, LME price of nickel has stuck to around USD 28,000 per tonne in recent weeks.

The nickel price is going up in Taiwan since the beginning of 2008 and the nickel behavior did not show any large drop in January 2008. This has led the transaction price rebound of stainless steel scrap up to TWD 82 per kilogram and TWD 84 per kilogram, increased by TWD 10 per kilogram.

Currently, the steel scrap containing 8% nickel is offered averagely as TWD 73 per kilogram to TWD 75 per kilogram, which has picked up from the bottom of TWD 62 per kilogram in last 2 months.