Feng Hsin Steel Co., Ltd. announced to raise the purchasing price of scrap by NT$500/ton and the prices of rebar by NT$700/ton, while the section steel price was kept flat this week. The increase in rebar prices exceeded market expectations.
Feng Hsin said that there were no offers from the US scrap shipment last week. During the same period, the price of Japan’s H2 scrap and Australia’s iron ore dropped by 2.5% and 1.8%, respectively. The US containerized scrap price had a week-on-week increase of 2.7%.
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