Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, lowered its prices for both rebar and scrap steel by NT$200 per ton this week. The adjustment brought the new rebar price to NT$18,700 per ton and scrap steel to NT$9,900 per ton. Section steel prices remain unchanged at NT$25,000 per ton.

The rebar price reduction is within market expectations after a weak performance last week, where sporadic transactions required special discounts. This second consecutive weekly drop signals a transition from a bullish to a bearish market trend.

International raw materials also trended down. US containerized scrap steel fell to US$360 per ton, down from US$364, and Australian iron ore decreased to US$106.85 per ton. US bulk scrap shipments and Japanese H2 scrap had no price quotes.