News 

Add to my favorite

As the nickel price in LME touching the lowest point has been recently bouncing back and Indonesian government’s ban on the export of nickel laterite representing 15% of the global nickel laterite production continues, the stainless steel price this year will be significantly higher than last year. Artificial persons expect a significantly higher profit growth of TCI than last year starting from the 2nd quarter due to the low-priced inventory.

 

They pointed out that Indonesia keeps the ban on nickel laterite export and European and USA consider to impose sanctions against the export of refined nickel from Russia (representing 13% of the global production) and the nickel inventory of China continues to drop, speculation about the increasing nickel prices in the market results in less release of nickel inventory and the accumulative inventory built by downstream stainless steel customers. With the short term increasing demand for stainless steel, the nickel price is estimated to reach over USD18,000 and the space for the nickel price to decline is limited.

 

Benefited by the increasing nickel price and the integration of new fastener distributorship, TCI is expected by artificial persons to achieve the annual revenue growth of over 20%. TCI’s annual net profit after tax is estimated to triple and reach NTD0.9 billion with the EPS after tax being NTD1.1, the highest record in the most recent 5 years.

Save and share