Taiwan's leading steel producer Feng Hsin Steel Co., Ltd. announced no changes to its prices this week. The scrap purchase price remained unchanged at NTD 8,800 (about USD 271) per ton, the rebar price at NTD 18,400 (about USD 567) and the section steel price at NTD 24,800 (about USD 764).
Keeping prices unchanged is considered a step in line with market expectations and has effectively increased market confidence. However, due to fluctuating global raw material prices, the market is generally cautious.
In a statement made last week, Feng Hsin stated that falling rebar prices aligned with market expectations. The company emphasized that this situation revealed the need for steelmakers to quickly revise their prices to receive orders in difficult market conditions. The statement noted that the sharp decline in raw material prices last week played a decisive role in this decision.
Feng Hsin also reported that there were no scrap shipment offers from the US last week. During the same period, Japan's H2 scrap prices decreased by 1.5% to around USD 320 per ton, while US containerized scrap prices fell by 3.2% on a weekly basis. In contrast, Australian iron ore prices increased by 3.8%.
Comments
No comment yet.