Although the nickel price in LME is hovering around US$15,000/ton, Yieh United Steel Corp. (Yusco) and Tang Eng, the two largest stainless steel producers in Taiwan still decide to cut the June price due to the slack demand.
Affected by this, market participants estimated that the stainless steel market price would probably drop further this week.
Yusco said that considering the raw material and exchange rate of Taiwan currency, the production cost almost kept flat, while under the threat from Chinese and South Korean cheap resource, it still decide to cut the domestic 300 series and 400 series price by NT$2,000/ton and NT$500/ton respectively for June.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64731&division=A1
