Driven by substantially surged nickel prices, the purchase prices of stainless scrap soared to TWD 60 per kilogram in Taiwanese market.

Furthermore, it has been expected that the prices of stainless steel products would b be supported as well.

In fact, the stainless steel prices have rose in Taiwanese market currently after Taiwanese two major stainless producers, Yieh United Steel Corporation or YUSCO and Tang Eng announced to hike the January 2012 list prices by TWD 1,500 to TWD 2,000 per tonne.

However, it's difficult to stabilize the stainless steel prices in Taiwanese market, affected by the cheap imports.

Nevertheless, after the nickel prices surged to exceed TWD 19,000 per tonne last week, the stainless steel prices have been pushed up in Taiwanese market.

Industry sources expected that the nickel prices to continue to rise this week to boost the stainless steel prices further.

(Sourced from www.yieh.com)