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Yieh United raises wholesale prices of stainless steel.

Taipei, Feb. 8, 2012 (CENS) -- To offset price hikes of raw material as nickel, Yieh United Steel Corp., one of Taiwan's leading manufacturers of stainless steel, has recently raised the wholesale prices of its major products to be delivered in February.

The company raised the domestic wholesale prices of 300-series cold- and hot-rolled stainless steel by between NT$5,000 and NT$6,000 per metric ton, as well as export prices by 5% or between US$250 and US$280 per metric ton, making the adjustments the highest monthly increases since the second half of last year.

The company raised the domestic wholesale prices for 400-series cold- and hot-rolled stainless steel by NT$1,000 per metric ton, as well as the export prices by between US$30 and US$50 per metric ton.

A steel industry analyst said nickel prices have recently exceeded US$20,000 per metric ton, or US$21,400 in spot prices. The average monthly average for the material reached US$19,600 per metric ton in January, up by US$1,517 per metric ton from the previous month's average of US$18,100.

Downstream firms as Yeun Chyang Industrial Co. said it would also raise prices of its major products, also noting having received orders for 25,000 metric tons of stainless steel in January, enough to last for the next three months and higher than expected.
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Title Annotation:Yieh United Steel Corp.
Author:Shen, Ben
Publication:The Taiwan Economic News
Article Type:Brief article
Date:Feb 8, 2012
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