Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, adjusted its pricing schedule by lowering rebar prices by NT$200 per ton, reducing the base price from NT$17,800 to NT$17,600, while keeping scrap steel and section steel flat at NT$9,000 and NT$25,000 per ton, respectively.

Market participants anticipated the rebar price reduction, which aims to narrow the gap between published and unannounced rates despite recent order inflows.

International material quotes showed US containerized scrap holding steady at US$330 per ton, Australian iron ore rising from US$96.1 to US$97.3 per ton, and no reported quotes for US bulk or Japanese H2 scrap.