Traders Are Having Nice Mood Due to The Increased Nickel Price

According to report of foreign intermediary, traders are having nice mood due to the increased nickel price, imported price for Asian Stainless steel in January 2012 increased around 50 USD/ton. Price of 304 SS cold rolling is about 2800-2950 USD/ton which is higher than the end of December 2800-2900 USD/ton. Stainless steel hot rolling is about 2700-2750 USD/ton which is higher than the end of December 2660-2680 USD/ton. One of Taiwanese exporters says: our price for January is put up 50 USD/ton due to the increased nickel price. This exporter mainly supply to East Asian market. From March 2011, price of Asian stainless steel kept decreasing and created lowest record since January 2010. One of Chinese exporters says: our exporting price is increased about 50-60 USD/ton due to the increased nickel price however the volume of trade is very low. This exporter mainly supply to Korea and Taiwan market. LME nickel price rebounded in the end of December; hereafter positive mood is raised lightly in the market. One of the Korean exporters says: from January the situation of Asian market export to Euro countries are getting better since the stockpiled dealers' mood got warm. He also says: because the nickel price is not possibly slump again, he is straight forward waiting for a chance to purchase inventory. "The deadline of European Debt will be the end of February and the beginning of March, so related countries must solve E.D. problem before this." Price of Tisco stainless steel also increased 60 USD/ton, their price of 304/2B 2mm cold rolling delivered in March is 2960 USD/ton and hot rolling is 2810 USD/ton. Source: steeljs.net