Yieh United Steel Corp. Lowers Stainless Steel Price for June

Yieh United Steel Corp. Lowers Stainless Steel Price for June

Influenced by the sharp fall of international nickel price, the stainless steel domestic and export price for June quoted by Yieh days ago experienced a great fall. The domestic price of 300 series cold and hot rolled steel products lowers NT$5,000-6,000 per ton; the export price lowers USD150-200 per ton. The average range of the price drop is close to 5% and is higher than what the market expected. For this price adjustment, Chairman Yi Shou Lin of Yieh United Steel manifests that the price drop resulted from the drop of the international nickel price (dropped USD2,000 per ton), and it is necessary for the upstream steel factories to reflect the cost of raw materials. He believes that after the continuous drop, if the nickel price will go back to normal in the future, the steel price will get strong support.