Feng Hsin decided to maintain its scrap purchase price at NTD 9,100 (USD 284) per ton, rebar price at NTD 18,100 (USD 564) per ton, and steel section price at NTD 25,200 (USD 785) per ton.
Feng Hsin also said there were no offers for scrap shipments from the US last week. During the same period, Japan’s H2 scrap price fell by 1.5% to USD 325 per ton, while the US containerized scrap price fell by 1.6% to USD 315 per ton. Australia’s iron ore price also fell by 1.14% compared to last week.
Industry experts said that the stable rebar prices aligned with market expectations. It was also added that the market in Southern Taiwan was sluggish last week. A sudden increase in rebar prices would create a price difference between Southern and Northern Taiwan, so it is more appropriate for prices to remain stable.
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