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Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, announced to hike the purchasing price of scrap and the prices of rebar by NT$500/ton for this week, at NT$12,300/ton and NT$21,900/ton respectively. The price of section steel was kept unchanged at NT$26,500/tons. 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 US containerized scrap grew by 1.6% and 3.7% week on week, respectively. Australia’s iron ore price had a week-on-week increase of 5.8%.
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