Recently, Asian stainless steel market has remained sluggish due to plummeted nickel prices and weak demand.

It’s known that Taiwanese stainless steel mills including Yieh United Steel Corporation, Tang Eng and Walsin Lihwa announced to cut the domestic prices of 300 series products by TWD 3,000 per tonne to TWD 3,500 per tonne and decrease the export prices by USD 80 per tonne to USD 150 per tonne respectively due to slumped nickel prices.

Furthermore, it’s rumored that a South Korean major stainless steel mill cut prices which were USD 150 per tonne lower than the market prices in Asia to gain orders.

(Sourced from YIEH.com)