Taiwanese Feng Hsin has decided to cut its rebar, scrap collection prices by NT$200/ton and steel section price by NT$500/MT in this week due to slow market demand.
The company's rebar base price will be adjusted at NT$17,600/ton, its scrap collection price will be NT$10,500~11,400/ton and its steel section price will be NT$19,700~19,900/ton.
Feng Hsin's move is seeking to push demand higher; however, for some distributors with high inventories, they said Feng Hsin's cutting price will make them to lose more money and they have no idea to deal with their stocks in hand.