The export price of stainless steel wire rods in Taiwan has surged to a new high in the past seven years, and the price in the first three quarters has also surged by NT$15,500 compared to the same period a year ago.

The surge in export price of stainless steel wire rods was mainly due to the increase in prices of raw materials such as nickel, which caused steel mills to raise their prices accordingly.

Yieh Hsing and Walsin Lihwa, two leading stainless steel wire rod producers in Taiwan, will directly benefit from the soared prices. The two firms’ revenue was expected to grow further, and their annual operating performance is also worth looking forward to.