Feng Hsin has announced a reduction in this week’s purchasing price for scrap metal, lowering it by NTD 300 per ton to NTD 10,000 per ton (approximately USD 322). Additionally, the price of rebar has been decreased by NTD 400 per ton to NT 18,900 per ton (approximately USD 609). Meanwhile, the price for steel sections remains unchanged at NTD 26,200 per ton (approximately USD 844).
The reduction in rebar prices aligns with market expectations, driven by weak sales. The price adjustment also addresses the significant price disparity between Southern and Northern Taiwan, aiming to align with current market conditions.
Commenting on the latest developments regarding US scrap shipments, Feng Hsin confirmed that there were no offers last week.
The international market saw an increase this week. The price of Japan’s H2 scrap saw a 0.84% increase week-on-week, reaching USD 360 per ton. The US containerized scrap price experienced a 0.29% rise to USD 348 per ton. Additionally, Australia’s iron ore price increased by 1.4% week-on-week.
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