It is reported that steelmakers such as South Korean POSCO and Taiwanese Yieh United Steel Corporation have recently increased the export prices of nickel based cold rolled stainless steel by USD 200 per tonne averagely for Asian market.

Also, it's known that Taiyuan Iron & Steel Group hiked the domestic prices of nickel based CR stainless steel by CNY 500 per tonne for August 2011 delivery after the drop during April to July in response to falling nickel prices.

At the same time, Taiwanese nickel based CR stainless steel mills raised their August 2011 domestic prices by TWD 3,500 per tonne after the dip in the past four months.

Besides, POSCO decided to hike its domestic prices of nickel based CR stainless steel by KRW 100,000 per tonne for August 2011 shipment. Most of overseas mills from Asia, Europe and the US lifted up the nickel based CR stainless steel for the first time in the past five months.

Facing the price hike of stainless mills, the inquiries from end users have been increasing; however, wholesalers or stockiest have taken wait and see attitude toward the market.

(Sourced from www.yieh.com)