Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, announced price adjustments this week, dropping rebar by NT$200/ton to NT$16,200/ton, while keeping scrap and section steel prices unchanged at NT$7,600/ton and NT$23,000/ton, respectively.

This rebar price reduction addresses unofficial market discounts offered by mills to secure orders, aiming to return pricing to a stable, practical level. The adjustment shows the mill’s intent to secure new orders amid pressure to fill backlogs. The company awaits downstream buying and observes if further discounts emerge.

Feng Hsin said that there were no offers from the US scrap shipment and Japan’s H2 scrap last week. US containerized scrap was unchanged at US$300/ton, and Australia’s iron ore prices slightly rose by 0.7% to US$104/ton.