Yieh Hsing Enterprise Co., Ltd., one of the major wire rod manufacturers in Taiwan, announced to hike the price of carbon steel wire rod by NT$1,000/ton and stainless steel wire rod by NT$6,000/ton, which was expected to boost Yieh Hsing’s revenue and profit, with a positive outlook continued to the second quarter.

Nickel prices surged due to market concerns about fluctuations in the production and sales of Nornickel, the largest nickel supplier in Russia, amid the Russia-Ukraine crisis, and stainless steel prices have been boosted as well.