Due to the recovery in the global scrap markets, Taiwan Feng Hsin Steel has decided to increase its rebar and domestic scrap purchase price by $13.
The rebar price is at $654 by Friday. The price of HMS 1&2 80:20 scrap from the US was reported at $345 CFR Taiwan, up $10 after being $335 for two weeks.
Mysteel Global stated that international scrap prices recovered somewhat this week, improving market sentiment in Taiwan and encouraging local steelmakers to raise their scrap procurement prices and rebar prices.
Comments
No comment yet.