Cold-rolled stainless steel coil prices in Asia extended their upward trend during the week ending January 23, supported by rising nickel prices and firm quotations offered by steel mills. 

In Taiwan, prices increased by US$50/ton as high nickel prices kept mill quotations strong. Meanwhile, tighter nickel production restrictions in Indonesia also provided support to the stainless steel market. Prices are expected to remain at high levels till the Chinese New Year. 

In China, cold-rolled stainless steel coil prices rose by US$100/ton, mainly due to high nickel prices.