Global Fastener News

Taiwan’s Stainless Steel Wire Rod Prices Stabilize

Taiwan’s Stainless Steel Wire Rod Prices Stabilize
March 06
11:57 2023

Taiwan’s stainless steel wire rod prices stabilized in March at major mills Yieh Hsing and Walsin Lihwa, Yieh Corp Steel News reports.

However, some downstream buyers said that the market is much better than in January now.

Taiwan Industrial Fasteners Institute chairman Tu-Chin Tsai predicted the fastener industry would not recover significantly until May.

Market participants said that the demand for stainless steel and nickel is likely to be raised by China’s policies for massive infrastructure and substantial subsidies for new energy vehicles.

As China eased epidemic control measures and introduced policies to support the real estate industry, the demand for steel was expected to grow this year.

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