It is reported that the Taiwanese stainless steel producers are going to release August 2012 price policy. Industry sources predicted that they would cut the August 2012 list prices by TWD 1,000 to TWD 1,500 per tonne due to weak nickel prices.

It's known that the spot nickel prices at LME dropped to break USD 16,000 per tonne on July 20th 2012, hitting the lowest level since this year, because of investors' concern on debit crisis in euro zone.

The average spot nickel prices at LME were at USD 16,273 per tonne during the period from July 1st 2012 through July 23rd 2012, lower than the average prices of USD 16,539 per tonne in June 2012.

In addition, as the cheap stainless steel imports from China have impacted the Taiwanese domestic market, some distributors have reduced the prices to gain orders.

Affected by these factors, the stainless steel producers in Taiwan might cut the August 2012 list prices by TWD 1,000 to TWD 1,500 per tonne.

Source - www.yieh.com)

(www.steelguru.com)