Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, announced to decrease the purchasing price of scrap and the prices of rebar by NT$300/ton and NT$600/ton, respectively, for this week. Besides, the price of section steel was maintained at NT$27,000/ton.

Feng Hsin said that there were no offers from the US scrap shipment last week. During the same period, the price of Japan’s H2 scrap and US containerized scrap dropped by 1.87% and 1.66% week on week, respectively, and Australia’s iron ore price had a week-on-week decrease of 12.74%.