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...