Feng Hsin, one of the major steel long product makers in Taiwan has decided to cut the rebar list prices by NT$500/ton to NT$18,000/ton for this week.
The company already reduced the rebar price in total of NT$1200/ton within two weeks.
Also, the firm decided to cut the H beam list prices by NT$500/ton and the new H beam list prices are in the range of NT$19,900~NT$20,100/ton.
However, Feng Hsin kept the scrap purchasing prices unchanged at NT$10,500~NT$11,200/ton.
Dealers pointed out that the rebar prices are expected to rise in the near future as the iron ore prices have become stable recently.