Taiwan stainless steel wire rod producer Yieh Hsing has announced an increase in their prices for domestic market for March after Yusco announced to increase the prices of billet by NT10,000 to 14,000/mt.

The new price level of the 304 series stainless steel wire rod will be increased by NT$12,000/ton, when an increase of NT$4,000/ton for 316 series.

The reason to increase the prices is mainly because Yusco to increase the price of stainless steel billet, the company said.

Pricing of stainless steel wire rod has increased by 18 percent to NT$24,000/mt totally from first quarter.

Yieh Hsing estimated that the output will be cut by 1,000 tons by reason of billet shortage.

Taiwanese wire rod producers, Walsin Lihwa is also expected to raise their prices soon.