Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, raised the price of 300 series stainless steel wire rods by NT$2,000/ton for January 2024, and the price of 200 series and 400 series was kept flat. The moderate adjustment was to reflect the cost of stainless steel scrap and to consider customers’ competitiveness.

Walsin Lihwa said that the US Federal Open Market Committee decided to suspend interest rate hikes, which will help the market recover. Besides, the international nickel prices stabilized in December, and buyers’ willingness to purchase for their stock replenishment increased gradually after the long-term destocking came to an end.