Walsin Lihwa, a leading stainless steel wire rod manufacturer in Taiwan, announced to raise its prices of stainless steel wire rods for May, with different increases in different regions and markets.

Walsin Lihwa said its decision to hike prices was due to high production costs driven by rising stainless steel raw materials. Steel mills in Europe, the US, Japan, and South Korea have also raised their selling prices. The European alloy price was up by EUR 554/ton, the US hiked prices by US$783/ton, and South Korea's domestic prices increased by roughly US$240/ton.