Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, announced that the prices for its rebar, scrap, and section steel would be unchanged for this week. The price for the three products was maintained at NT$16,700/ton, NT$7,600/ton, and NT$23,800/ton, respectively. The decision to keep prices flat met market expectations. Amid slow downstream sales and steady raw materials prices, stable prices would give some support to the market.

Feng Hsin said that there were no offers from the US scrap shipment last week. Japan’s H2 scrap remained flat at US$313/ton, and US containerized scrap was also unchanged at US$300/ton. Australia’s iron ore prices fell by 3.2% to US$102.9/ton.