Taiwan's rebar price decreased to NT$18,000/t in early August last year and NT$18,300/t in mid-November. At the beginning of February this year, the highest price level amounted to NT $20,400-20,600/ton. However, due to the decreasing scrap price, the price of rebar decreased to NT $19,600-19,800/ton.
One of Taiwan's largest electric arc furnace factories, Feng Hsin Steel Corp. Ltd. announced yesterday that it will increase its rebar price by NT$300/t to US$20,500/t this week. The rebar price reached its highest level again after the new year. Meanwhile, international scrap prices have also increased.
In addition, Taiwan's domestic electricity rate will also be increased, which will be a big burden for rebar factories with electric arc furnace, which will also increase the cost of steel production.
Taiwan's scrap and rebar prices have not been easy to decrease because they have been affected by the above factors.
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