Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, announced a NT$200/ton decrease in its rebar prices this week, bringing the new price to NT$17,000/ton. Scrap and section steel prices remained unchanged, at NT$8,100/ton and NT$23,800/ton, respectively.

The price reduction for rebar was in line with market expectations. The company's decision to lower prices aims to align with actual market conditions and facilitate more realistic orders.

Feng Hsin said that there were no offers from the US scrap shipment last week. Japan’s H2 scrap steel fell by 0.6% to US$313/ton, and US containerized scrap also dropped by 0.6% to US$308/ton. Australia’s iron ore prices rose by 3% to US$102.8/ton.