Feng Hsin Steel Co. Ltd. decreased its prices this week in response to changing market conditions. The company decreased its scrap purchase price by NTD 300 per ton to NTD 9,400 (USD 294) per ton. The rebar price was also decreased by NTD 400 per ton to NTD 18,500 (USD 578) per ton. However, the steel section price remained unchanged at NTD 25,700 (USD 803) per ton.
According to industry experts, the drop in rebar prices was an expected development in the market, especially after the decline in scrap prices last week.
Feng Hsin also pointed out that there were no offers for US scrap shipments and Japan's H2 scrap last week, highlighting the tight supply from these key markets. In line with this, the price of US containerized scrap fell by 1.4% on a weekly basis to USD 340 per ton. Australia's iron ore price also suffered a significant decline, falling by 9.1% in the same period.
Feng Hsin's price adjustments reflect global changes in raw material costs and indicate that the company is carefully managing current market volatility.
Comments
No comment yet.