Taiwan's largest rebar producer Feng Hsin Steel has decided to reduce its rebar list prices by $12.5 for November 7-11.
The company explained that the reason for lowering its prices is the continued decline in global scrap prices and long-standing weak steel demand.
The price of Feng Hsin 13 mm rebar is at $610 for sales until November 11.
As of November 7, the price of HMS 1&2 80:20 from the USA has been announced as $345 CFR per week.
Many Taiwanese steelmakers had to further cut their rebar prices this week to facilitate sales.
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