It's reported that the stainless steel prices have surged by US$50~US$150/ton in the Asian market, driven by higher input costs, reduced discounts made by the stainless steel producers in the US and Europe, and the price rise of the Chinese and South Korean steelmakers.
Traders said that the prices of 304 grade stainless steel products have increased by US$50~US$150/ton in Asian market recently, mainly boosted by sharply surged nickel prices.
It's learned that South Korean steel producers hiked its stainless steel export prices by US$50~US$100/ton. Also, the Taiwanese stainless producers rose the export prices by US$30~US$50/ton.
Meanwhile, its' known that the nickel prices have continued rising after the US released QE3 monetary policy to boost economy. At present, the nickel prices have rebounded to touch the price level of US$18,000/ton.