East Asian stainless steel prices retreat on poor demand

Stainless steel prices in East Asia declined over the past week with demand remaining sluggish after producers raised their offers in response to a strengthening nickel market.

For instance, Yieh United Steel Corp (Yusco) and Tang Eng Iron Works - two major mills in Taiwan - announced at the end of July that they would increase their offers for grade 304 stainless hot-rolled and cold-rolled products by $160-180 per tonne and $145 per tonne per tonne respectively in August. Neither makes its prices public.

The surge in the price of nickel was attributed to supply tightness arising from disruptions to mining operations in...

Published

Lee Ken Kiat

August 01, 2019

12:15 GMT

Singapore