It is reported that the stainless steel prices increased by USD 50 per tonne in Asian market last week, driven by rebounding nickel prices.

The spot nickel prices at LME were at USD 18,850 per tonne on December 22nd 2011, surged by USD 1,000 per tonne from a week earlier, the highest level over past two months.

Traders indicated that the deals and inquires of stainless steel products have increased after the nickel prices rebounded as buyers have returned to market.

However, some market participants said that market situation may change due to the uncertainty of global economy and the volatile nickel prices.

(Sourced from www.yieh.com)