Taiwan's Feng Hsin cuts scrap and rebar prices

As per the price announcement, the purchase price of scrap was reduced by NT$300/ton to NT$14,200/ton, the price of rebar was reduced by NT$400/ton to NT$24,700/ton, and the base price of sections was reduced to the base price of steel. It was held at NT$29,400/ton. The price adjustment was in line with market participants' forecasts.

Feng Hsin said that he received no offers from the US scrap shipment last week. During the same period, Japan's H2 scrap price and the US containerized scrap price decreased by 3.28% and 3.57%, respectively, from the previous week. Australia's iron ore price fell 7.77 percent week on week.