Feng Hsin lowered its scrap purchase price by NTD 200 (USD 6.3) per ton to NTD 8,900 (USD 281). The company decided to maintain its rebar price at NTD 18,100 (USD 571) per ton and its steel section price at NTD 25,200 (USD 795).
Feng Hsin also stated that there were no offers for scrap shipments from the US last week. During the same period, Japan's H2 scrap price fell by 2.2% to USD 313 per ton, while the US containerized scrap price fell by 1.6% to USD 310 per ton. Australia's iron ore price also rose by 11.5% compared to last week.
Industry experts reported that the stable rebar prices last week were in line with market expectations and that the market in southern Taiwan was sluggish.
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