Feng Hsin, one of the major rebar producers in Taiwan announced its price policy for this week.

The company decided to hike the list prices of rebar and section steel by NT$300/ton respectively for this week, in response to 35% price rise in industry-use electricity charges.

However, the company decided to cut the scrap prices by NT$200/ton for this week since the prices of local scrap offers were higher than the prices of imported scrap. It’s known that the prices of the US container HMS 80:20 (1&2) to Taiwan last week were at US$445/ton C&F, equal to NT$13,700/ton.

After the adjustment, the company’s latest prices of rebar are at NT$21,500/ton; that of section steel is at NT$22,900~NT$23,100/ton and that of scrap is at NT$13,200~NT$14,000/ton.