It is reported that the Taiwanese stainless steel market remained quiet last week due to falling nickel prices and weak demand.

It is known that the nickel prices at LME had ever dropped to USD 15,725 per tonne last week and rebounded back to the level of USD 16,000 per tonne on July 13th 2012.

The Taiwanese stainless steel mills announced to cut the domestic prices by TWD 1,000 to TWD 1,500 per tonne and to reduce the export prices by USD 10 to USD 20 per tonne for July 2012.

However, the distributors in Taiwan cut the prices by around TWD 3,000 per tonne to compete against the cheap imports from China and South Korea

Source - www.yieh.com)

(www.steelguru.com)