Posted on 07 Jan 2009
Yusco to halt shipments temporarily
Taiwan’s Yieh United Steel Corp. (Yusco) has announced a temporary halt to its shipments, except for scheduled shipments; this situation was triggered by nickel recently shooting to above US$13,000/ton, from the previous price of US$9,800/ton.
Besides, stainless steel prices are likely to increase, if nickel prices don’t fall in a week, the company added. Yusco is taking a careful wait-and-see attitude.
Taiwan’s domestic manufactures were forced to cut price list in January, as nickel prices slid to below US$10,000/ton in December 2008. Under these circumstances, most mills have cut production by up to 50 percent to preclude prices from dropping below operating costs.
