Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, maintained the price of 200 series, 300 series, and 400 series products and the surcharge of copper-contained and 316 products for the domestic market. As for exports, the base price of the 300 series was raised by US$50/ton due to the appreciation of the Taiwan dollar.

Walsin Lihwa said the recent prices of LME nickel and stainless steel scrap have risen, which put pressure on steel mills.

Market participants forecasted that the US Federal Reserve is highly likely to cut interest rates, and with the end of the summer break in Europe, demand is expected to recover.