Taiwan's leading electric furnace producer Feng Hsin Steel Co. Ltd. announced that it has maintained this week's scrap purchase price at NT$10,700/ton and rebar and steel profile prices at NT$19,400/ton and NT$26,800/ton, respectively. The price adjustment was in line with market expectations.
Feng Hsin said last week that there were no offers for scrap shipments from the US. During the same period, the price of Japan's H2 scrap decreased by 1.4% on a weekly basis, while the price of US containerised scrap remained unchanged. Moreover, iron ore prices in Australia posted a slight increase of 0.4% on a weekly basis.
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