Nickel, the main raw material for stainless steel, accounts for up to 50% of the total cost. The recent price of nickel hit a ten-year high of $22,000/t due to new Indonesian policies and the fall in the US dollar.
Indonesia, the world's largest nickel producer, is considering imposing export duties on nickel pig iron and ferronickel as early as this year at a duty rate of at least 2%, which is likely to drive up stainless steel costs. The fall in the US dollar has also made the prices of US dollar-denominated metals such as ferronickel more popular.
In addition, stainless steel prices in China have also risen recently. Due to rising stainless steel prices in China and global nickel prices, Taiwanese stainless steel mills were expected to raise their new prices for February.
Taiwanese factories to raise stainless steel prices for February
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Azovpromstal® 14 January 2022 г. 10:41 |
