Feng Hsin Steel Co., Ltd., one of Taiwan's leading electric furnace manufacturers, announced that it has increased its scrap purchase price by NT$200/ton while maintaining its rebar and section price this week.
The price announcement was in line with market expectations.
Feng Hsin said that there were no offers from the US scrap shipment last week. During the same period, Japan's H2 scrap price and US containerized scrap price increased 8.1% and 1% week on week, and Australia's iron ore price rose 19.7 percent week on week.
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