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Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, announced to adjust the prices of its products for this week.
According to the price announcement, the purchasing price of scrap was decreased by NT$300/ton to NT$14,200/ton, the price of rebar was also dropped by NT$400/ton to NT$24,700/ton, while the base price of section steel was maintained at NT$29,400/ton. The price adjustment was in line with market participants’ estimate.
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 price dropped by 3.28% and 3.57% compared to the previous week, respectively. Australia’s iron ore price was down by 7.77% week on week.
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