Taiwanese mills and distributors under nickel retreat pressure

2024-06-10 Market News Asia
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Taiwanese stainless steel makers are forced to lower their June sales targets due to weak acceptance of the recent price hike, and distributors are in a worse situation.
On May 31 and June 1, most major Taiwanese stainless steel-making companies announced a sharp increase for June, being supported by a surge in nickel quotes throughout last month, as SMR reported earlier. However, key raw material prices sharply fell early this month to around USD 18,200-18,500/t (from the peak of around USD 21,000/t in late May). Continue Reading? Please click box below!

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