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

Feng Hsin Steel Co., Ltd. announced to raise the purchasing price of scrap and the prices of rebar by NT$300/ton and NT$400/ton for this week, at NT$12,600/ton and NT$22,300/ton respectively. The price of section steel was also hiked by NT$600/ton, reaching NT$27,100/tons. The price adjustment of rebar 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 US containerized scrap grew by 4.7% and 3.8% week on week, respectively. Australia’s iron ore price had a week-on-week increase of 3.5%.