Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, announced the price of its stainless steel wire rod for October.

According to the price announcement, for the domestic sales, the price of the 200, 300, and 400 series was kept flat, and the surcharge for the 316 series and welding rod steel was also maintained. For export sales, the price of the 300 series was raised by US$30/ton due to the appreciation of the Taiwan dollar.

Walsin Lihwa said the market confidence was boosted by the Fed’s expected second 50-basis-point interest rate cut, and a new wave of funding effects was expected to bring investment and expand consumption. Besides, China recently planned to cut the reserve requirement ratio and release 1 trillion yuan in liquidity to the financial market, implementing measures for the housing and stock markets.

Both the US and China introduced stimulus policies, which were expected to improve the global economy. However, Taiwan’s steel mills might face higher production costs due to a possible increase in industrial electricity prices.