Reported 9 months ago
In the traditionally slow third quarter for the stainless steel market, Huaxin Steel (1605) responded to the recent international nickel price decline by lowering raw material prices for the first time this year, ending a six-month consecutive price hike. Some stainless steel prices in the 300 series in July were reduced by NT$1,000-3,000 per metric ton. With uncertainties in the stainless steel industry this year, Huaxin considers customer order competitiveness and adjusts prices reflecting the decrease in nickel and other raw material prices. While maintaining the prices for the 200 and 400 series, Huaxin anticipates better performance in the second quarter for its cable, stainless steel, and resources businesses compared to the first quarter.
Source: YAHOO