Feng Hsin Steel Co., Ltd., a leading electric furnace mill in Taiwan, maintained its scrap purchasing price at NT$8,400/ton this week. Similarly, the prices of rebar and section steel remained unchanged at NT$18,000/ton and NT$24,800/ton, respectively.

International scrap quotations have stopped, and the prices of raw materials are unknown. Rebar prices continued to remain flat this week, and steel mills might continue to take orders in a negotiation method.

The company noted that there were no offers for US scrap shipments last week. Meanwhile, there were also no offers for Japan's H2 scrap and US containerized scrap. Australia's iron ore price dropped by 0.4% week on week to US$98.6/ton.