Yieh Hsing Enterprise Co., Ltd., one of the major wire rod manufacturers in Taiwan, was rumored to greatly hike its price by up to NT$15,000/ton for stainless steel wire rods. The general manager of Yieh Hsing said that the company didn’t rule out the possibility of largely raising its prices due to the current high raw materials.

The international nickel price fluctuated a lot in March. Nickel, as an important raw material for stainless steel, is the main driver affecting the stainless steel market.

If Yieh Hsing’s stainless steel wire rod price is increased by more than NT$15,000/ton for April, the downstream industry will have to bear raw materials with higher costs.