Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, announced its September prices last Friday (August 28), opening NT$3,000 higher for 304 stainless steel wire rod, ending two consecutive months of flat openings.
Meanwhile, Walsin Lihwa raised its 304 copper-containing wire rod price by NT$4,000, and its 316 wire rod price also increased significantly by NT$5,000. Meanwhile, the 200 and 400 series remained unchanged, marking the third consecutive month of flat prices.
The company stated that geopolitical factors and Indonesia’s restrictions on nickel ore mining have kept the prices of key raw materials for stainless steel (including nickel, copper, and molybdenum) high. Furthermore, the EU’s Carbon Border Adjustment Mechanism (CBAM) has intensified the pressure on steel mills to reduce emissions, leading to a continued rise in overall production costs.
Considering cost factors and the international competitiveness of its customers, the company decided to adjust its wire rod prices for September.