Taiwan’s stainless steel wire rod prices stabilize, industry to recover in May
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Update time : 2023-03-01 17:45:59
Due to the current market lacking growth momentum, Taiwan’s stainless steel wire rod prices for March were maintained by major mills Yieh Hsing and Walsin Lihwa. However, some downstream buyers said that the market is much better than in January now.
Tu-Chin Tsai, the chairman of Taiwan Industrial Fasteners Institute, expected the fastener industry not to 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 be boosted this year.
