It's reported that Feng Hsin, one of Taiwan's largest rebar producer announced to cut its rebar prices by NT$300/ton due to decrease prices of the global scraps.
The price will be adjusted to NT$17,700/ton aex-works at central west Tainan on Monday.
In the meantime, Feng Hsin had also announced to cut its scrap purchasing price by NT$200/ton to NT$10,500/ton last Saturday in response to the decline in global scrap prices.
Therefore, its scrap buying price remained unchanged on Monday according to reported.