Both rebar and scrap prices have decreased by NT$300 per tonne, currently standing at NT$19,400 per tonne and NT$10,500 per tonne respectively. Section steel prices remained unchanged at NT$26,700 per ton. The decline of NT$300 per tonne in both rebar and scrap prices reflects ongoing market dynamics. Despite these adjustments, section steel prices remained stable.
According to Feng Hsin, there was no bid price for scrap shipments to the US last week. Likewise, two weeks ago there was no bid price for scrap shipments to the USA. The absence of bid prices for scrap shipments to the US for two consecutive weeks suggests potential challenges or shifts in demand in that market.
Additionally, H2 scrap prices in Japan dropped from $378 to $375 per tonne, while containerized scrap prices in the US fell from $368 to $358 per tonne. The reduction in H2 scrap prices in Japan and containerized scrap prices in the US indicates trends in the international scrap market, potentially influenced by factors like supply and demand dynamics, currency fluctuations, and global economic conditions. The price of Australian iron ore has also fallen, currently standing at $115.7 per tonne, down from $120.85 per tonne.
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