It is reported that the Taiwanese stainless steel market still remained quiet and market almost fell to an idle running last week.

Due to decreasing nickel price in LME and slack demand, Yieh United Steel Corporation and Tang Eng announced to cut the 300 series price for August 2012 by USD 33 per tonne. The stainless steel distributors cut the prices in advance but it is still difficult to stimulate the buyers to place new orders.

Market participants said that European and US economy have not revived as expected. It is believes that the soft steel market would not be changed this week.

Source - www.yieh.com)

(www.steelguru.com)