Taiwan's leading electric furnace producer Feng Hsin Steel Co. Ltd. announced that it increased its weekly scrap purchase price by NT$200/ton to NT$10,500/ton and its rebar price by NT$300/ton to NT$19,300/ton. The steel section price remained unchanged at NT$26,300/ton.
The order received last week reached the target. This week's rebar price hike was in line with expectations.
Feng Hsin said that there were no offers for scrap shipments from the US last week. During the same period, Japan's H2 scrap price increased by 1.3% on a weekly basis, while the US containerised scrap price increased by 1.4% compared to last week. Australia's iron ore price recorded a slight increase of 0.78% on a weekly basis.
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