Taiwan’s Feng Hsin raises scrap, rebar section steel prices this week

Feng Hsin Steel Co. Ltd. in Taiwan, announced to raise the purchasing price of scrap by NT$500/ton and the prices of rebar and section steel by NT$700/ton and NT$700/ton respectively for this week. The price adjustment was in line with market expectations.

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 and the USA containerized scrap hiked by 2.1% and 3.1%, respectively. Australia’s iron ore price had a week-on-week increase of 9.3%.