Since LME nickel prices continued to rise, as expected by the market, stainless steel prices in the Asian market also increased further. Meanwhile, export prices quoted by Taiwan and China have been continuously raised, and a stable trend is expected in the short term. 

The price has risen for three consecutive weeks as of last week, with the cumulative increase in stainless steel cold-rolled coil prices reaching US$230/ton in the past six weeks. 

In addition, the Chinese market saw a sharp increase of US$100 per ton last week, a significant surge. On the raw material side, the LME nickel price hit a new high for this period, with Indonesian nickel pig iron prices also rising. 

Market participants indicate that rising raw material costs have kept the mills' price firm, and even with current weak demand, prices are expected to remain stable ahead of the Lunar New Year.