Feng Hsin Steel Co. Ltd., a leading steelmaker based in Taiwan, has kept its prices steady for this week. The company has kept its purchasing price of scrap at NTD 9,400 per ton (approximately USD 292), its rebar price at NTD 18,800 per ton (approximately USD 584), and its steel section price at NTD 25,200 per ton (approximately USD 783).
Market sources said that rebar producers are aiming to maintain price stability for now, and therefore the fixed prices are in line with industry expectations. However, given the recent decline in international scrap prices, there are assessments that rebar prices could become negotiable. Industry observers are closely watching for potential impacts stemming from the economic stimulus plan initiated by China’s National People's Congress (NPC) Standing Committee, which could influence market trends.
Feng Hsin announced last week that there were no offers for scrap shipments from the US. During this period, Japan's H2 scrap price remained stable at USD 325 per ton, while containerized scrap prices from the US fell by 1.5% on a weekly basis. On the other hand, Australia's iron ore prices increased by 1.4% on a weekly basis.
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