Taiwan’s Feng Hsin maintains scrap & section steel prices, drops rebar prices this week

Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, announced to keep the purchasing price of scrap and the price of section steel unchanged for this week, but rebar price was dropped by NT$500/ton. The price of scrap, section steel, and rebar was NT$11,500/ton, NT$26,500/tons, and NT$21,800/ton, respectively.

Feng Hsin said that there were no offers from the US scrap shipment last week. During the same period, the price of Japan’s H2 scrap dropped by 1% week on week, and the US containerized scrap price kept flat at US$460/ton. Australia’s iron ore price had a week-on-week increase of 5.8%.