Yieh Hsing Enterprise Co., Ltd., a significant wire rod producer in Taiwan, increased the prices of stainless steel wire rods for April citing elevated production costs.
As per the adjustments, the price for 304 stainless steel wire rods rose by NT$1,500/ton. Additionally, the surcharge for 316 products was raised by the same amount, while prices for the 200 and 400 series remained unaffected.
Yieh United Steel Corp. (Yusco), a prominent stainless steel mill in Taiwan, continued its practice of individually negotiating prices with customers for April, marking the fourth consecutive month of this approach.
While Yusco did not officially disclose precise pricing details, industry insiders noted that actual prices had increased. Specifically, 304 products saw a rise of NT$1,500/ton, 316L products experienced a similar increase, while prices for 430 products remained unchanged.
Walsin Lihwa, a Taiwanese manufacturer of stainless steel wire rods and cables, revealed its pricing for stainless steel wire rods in April. Notably, prices for the 300 series were raised by NT$1,000/ton, while surcharges for 316 products and prices for the 200 and 400 series remained steady.
The company highlighted that the increase in industrial electricity prices starting from April, coupled with the depreciation of the New Taiwan dollar, contributed to higher production costs. Additionally, despite clients continuing to replenish stocks, the recovery in China's market was not as robust as anticipated.
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