It's reported that Feng Hsin, one of the major steel long product makers in Taiwan announced to cut its rebar prices by NT$300/ton to NT$17,600/ton this week.
Also, the company decreased its scrap purchasing prices by NT$200/ton to NT$10,500~NT$11,400/ton.
However, Feng Hsin remained its list prices for section steel products unchanged at NT$19,900~NT$20,100/ton.
Meanwhile, industry sources predicted that the mainstream prices of rebar in southern Taiwan market would also decrease to NT$16,800/ton this week, affected by Feng Hsin's price cut.