For this week, Feng Hsin kept its scrap purchase price unchanged at NTD 10,000 per ton (USD 313) and rebar price at NTD 18,900 per ton (USD 591). However, the steel section price was decreased by 500 NTD to 25,700 NTD per ton (803 USD).
This week's stable rebar prices are in line with market expectations. Current prices are close to costs, making price stability more reasonable for the market.
Commenting on the latest developments regarding US scrap shipments, Feng Hsin confirmed no offers last week.
In the international market, there has been a moderate decline this week. Japan's H2 scrap price held steady at USD 360 per ton, while the US containerized scrap price fell slightly by 0.9% to USD 345 per ton. Moreover, Australia's iron ore price fell by 2.6% compared to last week.
Comments
No comment yet.