Feng Hsin Steel, one of Taiwan's leading producers, announced that it has reduced its scrap and rebar price for this week.
According to the price announcement, the purchase price of scrap decreased by NT$300/ton, while the price of rebar decreased by NT$200/ton.
Due to the decline in scrap prices, rebar prices fell for three consecutive weeks.
Feng Hsin said that there were no offers from the US scrap shipment last week.
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