Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Taiwan-based stainless-steel manufacturer Yieh United (Yusco) has hiked prices of stainless-steel plates for February.


Yieh United has lifted prices for both domestic and export markets for February sales. For domestic products, prices are higher by TWD6,500/mt ($232/mt) for 304 hot-rolled and cold-rolled SS. For 430 hot-rolled and cold-rolled, prices were elevated by TWD4,000/mt, however, the surcharges for 316 liquid was unaltered. 


For 304 exports, prices are up by $200/mt, while 430 is now up by $160-200/mt and the surcharge for 316 liquid is up by $30/mt. 

The hike in prices of stainless-steel products was apparently expected by the market participants. 


Sources have shared with Davis Index that with the high raw material costs, especially significantly higher cost of imported scrap, mills are forced to raise prices. They added same trend could be followed by Indian producers.


Higher global nickel levels have pushed up stainless steel scrap prices. Demand for nickel is rising on the back of robust demand from electric vehicle battery manufacturing for which nickel is a basic raw material. 


($1 = TWD28)

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