Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, announced a NT$200 per ton price increase for rebar this week, bringing the new list price to NT$16,900 per ton. Meanwhile, section steel and scrap prices remained steady at NT$23,500 per ton and NT$8,400 per ton, respectively.

Rebar demand showed strength. After a mid-week adjustment of NT$100 per ton last week and limited order acceptance, the mill set a higher base price for this week.

Feng Hsin said that there were no offers from the US scrap shipment and Japan’s H2 scrap last week. US containerized scrap rose by 1.3% to US$316, and Australia’s iron ore prices fell by 0.6% to US$104.75/ton.