Feng Hsin Steel Co., Ltd., a major electric furnace mill in Taiwan, has maintained its scrap purchasing price at NT$11,200/ton this week, along with keeping rebar and section prices unchanged at NT$20,000/ton and NT$26,300/ton, respectively.
The stability in rebar prices aligns with market expectations, following sluggish transactions in the previous week attributed to low market prices and the pre-holiday atmosphere.
Feng Hsin reported no offers from US scrap shipments last week. During the same period, Japan's H2 scrap price experienced a 0.5% week-on-week decline to US$383/ton, while the US containerized scrap price dropped by 0.8% week on week to US$377/ton. Meanwhile, Australia's iron ore price saw a 4.1% week-on-week increase.
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