Taiwanese company Feng Hsin increased scrap and rebar prices

Feng Hsin has increased its scrap and rebar purchasing price by NTD 300 (about USD 9), bringing the scrap price to NTD 8,700 (about USD 265) per ton and the rebar price to NTD 18,000 (about USD 548) per ton. 

After the New Year holidays, rebar prices increased in line with market expectations, but then prices dropped back to NTD 17,400 (about USD 530) per ton and further fell to NTD 17,000 (about USD 518) in southern Taiwan. However, it remains uncertain whether this price increase will encourage purchases, as it still depends on international raw material prices. 

Feng Hsin mentioned that it did not receive any offers for scrap shipments from the US last week. During the same period, Japan's H2 scrap price rose, reaching USD 305 per ton. In the US, the price of containerized scrap increased, rising to USD 305 per ton. Meanwhile, Australia's iron ore price decreased to USD 104 per ton.