Yieh Hsing Enterprise Co., Ltd., one of the major wire rod manufacturers in Taiwan, hiked the price of carbon steel wire rods by NT$1,000/ton for January 2024. The company said the prices of carbon steel billets were driven up by the rising international iron ore prices. In addition, the US Federal Reserve's suspension of interest rate hikes will help the market recover, and customers are also increasing their willingness to replenish stocks.

For stainless steel wire rods, the price was up by NT$2,000/ton for 300 series, and the price of 200 series and 400 series was kept unchanged. The price adjustment was to moderately reflect the costs of stainless steel raw materials.