Indonesia Nickel Ore Export Price Rises, Walsin Increases May Wire Rod Prices

CNA News (Taipei, 29th) - In response to Indonesia''s recent hike in nickel ore export pricing benchmarks and the impact of conflicts in the Middle East, wire and cable and stainless steel manufacturer Walsin Lihwa announced today an increase in its May stainless steel wire rod prices. Walsin explained that the 300 series will increase by NT$4,000 per ton, copper-bearing series and 316 by NT$5,000 per ton, 200 series by NT$2,000, and 400 series by NT$1,000 per ton. Walsin pointed out that the recent adjustment of Indonesia''s nickel ore export pricing benchmarks and Middle East conflicts have driven up sulfur and natural gas prices. This further pushed up raw material prices and overall production costs for stainless steel, putting pressure on steelmaking costs. Meanwhile, geopolitical uncertainty has caused significant fluctuations in ocean freight rates. After comprehensive consideration, Walsin decided to raise its May wire rod prices.