Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, hiked this week’s purchasing price of scrap by NT$200/ton to NT$11,100/ton and also raised the price of rebar by NT$200/ton to NT$19,500/ton.
The adjustment in rebar price this week was in line with market expectations.
Feng Hsin said that there were no offers from the US scrap shipment last week. During the same period, the price of US containerized scrap price was up by 0.8% from last week, and Australia’s iron ore price increased by 3.9% week on week.
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