- Rising costs, tight supplies support prices
- Company raises wire rod prices by $126/t
SteelDaily: Taiwan’s leading wire rod manufacturer, Walsin Lihua, has raised stainless steel wire rod prices for May, marking the sixth consecutive monthly increase, driven by rising raw material and energy costs amid global supply tightness.
Cost pressures drive price revision
The company raised wire rod prices by TWD 4,000/t ($126/t), citing higher Indonesian nickel ore benchmark prices and elevated input costs, including sulphur and natural gas, linked to geopolitical tensions in the Middle East. Market participants noted that Indonesia’s revised nickel ore pricing formula (HPM), implemented in mid-April, has increased cost pressure on nickel pig iron (NPI) producers, tightening the cost base for stainless steelmakers.
Freight volatility has also contributed to rising overall steelmaking costs, further supporting the upward price trend.
Grade-wise price adjustments
Among key grades, 300 series wire rod prices increased by TWD 4,000/t ($126/t), while 316 series saw a sharper rise of TWD 5,000/t, reflecting higher alloy cost exposure. Meanwhile, 200 series and 400 series prices rose by TWD 2,000/t ($63/t) and TWD 1,000/t ($31/t), respectively.
Outlook
Market sentiment remains firm in the near term, supported by elevated nickel prices, higher production costs, and supply-side constraints. However, downstream demand response and global trade conditions will remain key factors influencing further price movements.
This article is published as part of a content-exchange agreement between SteelDaily and BigMint.
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