Because of the slumping nickel prices at LME, the major stainless steel producers in Taiwan including Yieh United Steel Corp. (Yusco), Tang Eng and Walsin Lihwa all announced to keep the price flat for March.

However, the Taiwanese stainless steel market remained quiet last week since the nickel prices dropped further at LME last week.

Industry sources pointed out that if the nickel prices remain at the current level, the average nickel prices in March will be US$1,600/ton cheaper than the prices in February, showing that the stainless steel input costs to drop by about US$101/ton in April.

Meanwhile, it’s forecasted that the Taiwanese stainless steel market would continue keeping quiet this week due to slack demand.