Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, announced its price for February, with 300 series wire rods increasing by NT$1,000/ton and 200 and 400 series remaining unchanged.

The company said that while stainless steel raw material prices remained stable in January, the depreciation of the New Taiwan dollar due to global political and economic factors has put cost pressure on steel mills. With the end of the Western holiday season and the Lunar New Year holiday, global demand is expected to gradually recover.

Besides, Tang Eng, another major stainless steel manufacturer in Taiwan, also adjusted its prices with an upward trend. The price of 304 hot-rolled and cold-rolled products was raised by NT$1,000/ton, and the surcharge for 316L was also increased by NT$2,000/ton.