Walsin Lihwa Corp (華新麗華) yesterday raised its stainless steel product prices for delivery next month by as much as NT$17,000 per tonne, as the Russia-Ukraine war fueled concern over tight supply of nickel.
The company said it would raise the price of 304 series stainless steel products, which contain 8 percent nickel and are the most versatile and widely used stainless steel — by NT$17,000 per tonne for local customers and by US$600 per tonne for overseas customers next month.
That represented a steep increase from its price adjustments of NT$$6,000 per tonne for domestic and US$200 per tonne for overseas deliveries this month.
Prices for other types of stainless steel products would be double those of prices for this month.
The price of stainless steel containing copper is to jump by NT$3,000 per tonne for domestic customers and by US$100 per tonne for overseas clients, company data showed.
The prices of 400 series stainless steel products are to go up by NT$3,000 per tonne for local sales and by US$100 per tonne for export sales.
Walsin Lihwa said it was hiking prices in line with price increases by North American and European suppliers of stainless steel products, as the costs of raw materials, coking coal, crude oil and natural gas rise amid geopolitical tensions, surging inflation and major central banks’ move to tighten monetary policy.
The price of 304 stainless steel soared by US$530 per tonne in North America, as global nickel prices hovered at a nearly 11-year high of US$27,778 per tonne, while European suppliers raised prices by US$830 per tonne, factoring in the introduction of energy surcharges.
