Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, raised the price of its stainless steel wire rod for February, with a hike of NT$2,000/ton in 300 series’ price and NT$1,000/ton in 316 products’ surcharges. The price for the 200 and 400 series was kept unchanged. The company said that the price adjustment appropriately reflected costs and considered customer competitiveness.

Walsin Lihwa pointed out that midstream and downstream industries’ willingness to purchase for stockpiles has increased with the signs of recovery in the global economy. China has recently announced a cut of 50 basis points in the reserve ratio requirements for banks, which stimulated the economy. Besides, the global carbon reduction trend makes the price of stainless steel scrap easy to rise but difficult to fall.