Walsin Lihwa, a stainless steel wire rod manufacturer in Taiwan, announced its wire rod price for June yesterday (July 30).

Due to the increase in nickel and molybdenum and depreciation of the Taiwanese dollar, the company decided to increase the price by NT$2,000/ton for 300 series wire rod, NT$1,000/ton for free-cutting steel wire rod, and NT$1,000/ton for 316L surcharge. Meanwhile, the price of the 200 series and 400 series was maintained for August.

Although tariff negotiations between Taiwan and the US are still ongoing, major Asian steel countries have reached agreements with the US, resulting in fading market uncertainty. It is expected that the steel demand will improve gradually. In consideration of the above factors and cost concerns, Walsin Lihwa decided to raise its domestic wire rod prices for August.