Taiwan stainless steel wire rod producer Yieh Hsing announced an increase in their prices for domestic market after Yusco announced to increase the prices of billet by NT4,000/ton to NT6,000. The allocation for different customers will be cut, the company said.

The new price level of the 304 stainless steel wire rod will be increased by NT$5,000/ton to NT6,000/ton, when an increase of NT2,000/ton for 316L. The price of carbon steel wire rod will be remained due to weak demand with increasing import from China.

Yieh Hsing explained that the reason to increase the prices is mainly because Yusco to increase the price of stainless steel billet. Taiwanese wire rod producers, Walsin Lihwa is also expected to raise their prices soon.