Walsin Lihwa, a leading stainless steel wire rod manufacturer in Taiwan, announced to adjust the prices of its stainless steel wire rod products for February after considering demand, supply, raw material trends, as well as the competitive conditions of downstream purchasers.

According to the price announcement, the domestic price of 304 was up by NT$6,000/ton, the export price was raised by US$200/ton, and the price for 400 series was kept unchanged.

According to Walsin Lihwa, the demand for stainless steel rebounded again after the US President signed a US$3 trillion infrastructure plan and China kicked off infrastructure projects of more than RMB 3 trillion as the new year started.

Besides, nickel price was boosted due to Indonesia’s policy to ban nickel ore exports and to impose export tariffs on nickel products. Coupled with a gradual increase in electricity prices in South Africa, the main producer of ferrochrome and new-high molybdenum prices driven by crude oil prices, Walsin Lihwa decided to increase its new prices for next month.