Feng Hsin, one of the major electric furnace mills and the major long steel products makers in Taiwan has announced to keep its rebar, steel sections and scrap purchasing price unchanged in this week.
After the announcement, its rebar base prices are at NT$17,800/ton, its scrap purchasing prices are at NT$10,700~NT$11,600/ton and its price for steel sections are at NT$19,900~NT$20,100/ton.
Although the scrap price has risen strongly in current global steel market, the slow domestic market demand has still made Fneg Hsin to remain its price flat in this week.
It is said only Taiwan's rebar mills to cut their output; otherwise, the rebar price may still stay weaken in domestic market.