The price of nickel on the London Metal Exchange (LME) continued its upward trend and is currently at $30,000 per tonne. Prices for tin, copper, aluminum and stainless steel also rose. According to market participants, the rise in prices for stainless steel will be sustainable in January next year.
Market participants believed that due to rising prices for raw materials, as well as price increases announced by Yieh United Steel Corp. (Yusco) for January, Yieh Hsing and Walsin Lihwa are also expected to raise prices for stainless steel wire rod.
Moving towards a low-carbon goal and a trend towards renewable vehicles, as well as the lifting of COVID-related restrictions, were expected to boost the Chinese economy through infrastructure development in the near future. While a downturn was expected in the global market, the stainless steel market may see a different trend.
Nickel price rises to $30,000 per ton, pushing up stainless steel prices
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Azovpromstal® 29 December 2022 г. 13:25 |
