Yieh Hsing Enterprise Co., Ltd., one of the wire rod manufacturers in Taiwan, announced on January 31st that it will keep the prices for carbon steel wire rod and stainless steel wire rods unchanged for February.

Yieh Hsing explained why it kept the prices for carbon steel and stainless steel flats. Though the current scrap metals’ price was dropping, as well as prices of ferronickel and other raw materials, the price of ferronickel in the past two months was almost the same by average.

Furthermore, the wire rods’ market was still low and quiet, and the prices for carbon steel and stainless steel have already reached the bottom. At the same time, novel coronavirus (2019-nCoV) affected all levels of economic, and Yieh Hsing commented that it was still under observation. If China can control the spread of 2019-nCoV, the wire rods’ market might bottom out.

Yieh Hsing addressed more that its raw material’s price for wire rods’ production was different as upstream steel plants’ raw materials’ cost. After observing and sincere considering, it announced finally the prices for wires rods both for carbon steel and stainless steel wire rods flat.