Feng Hsin Steel Co., one of Taiwan’s leading steelmakers, announced that it has reduced its scrap purchasing prices by NTD 300 (about USD 9) per ton, bringing the price down to NTD 9,100 (about USD 284). In addition, the price of THS and THK grade scrap has also decreased by NTD 200 (about USD 6) per ton.
The company has also lowered its rebar price by NTD 200 (about USD 6) to NTD 18,600 (about USD 580). However, the section price has remained unchanged at NTD 25,200 (about USD 783). The decrease in rebar prices was a strategic move by Feng Hsin to encourage customers to replenish their stocks. The company aims to make its rebar products more attractive to customers by lowering prices.
Feng Hsin also noted that no offers were received for US scrap shipments last week. Meanwhile, Japan’s H2 scrap price remained stable at USD 325 per ton, while US containerized scrap saw a slight 0.6% decrease on the week. In contrast, Australia’s iron ore prices rose by 0.8% from the previous week.
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