Yieh Hsing Enterprise Co., Ltd., one of Taiwan’s major wire rod manufacturers, announced its January price list today (December 31), raising 300 series stainless steel wire rods by NT$5,000/per ton. The 200 series rose by NT$500/ton, while the 400 series and carbon steel wire rods stayed unchanged. This NT$5,000 jump exceeds the NT$4,000 increase by Walsin Lihwa, showing a positive outlook on the market.
Yieh Hsing said the price adjustment is to respond to rising costs for nickel and nickel pig iron caused by mining restrictions in Indonesia. Besides, China’s upcoming export controls on steel products should help limit global supply. While China Steel Corporation (CSC) and Feng Hsin lowered carbon steel wire rod rates, Yieh Hsing’s steady pricing shows confidence in a recovery. This reflects the second straight monthly rise for the firm’s 304 products.