Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, maintained this week’s purchasing price of scrap at NT$8,600/ton. The price of rebar and section steel was also kept flat at NT$18,200/ton and NT$24,800/ton, respectively.

The flat rebar price this week was in line with market expectations. Transactions at the mills in Southern Taiwan increased last week, with a normal price level. Most steel mills in Taiwan received some orders in the past week.

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 was down by 1.6% to US$310/ton, and US containerized scrap fell by 1.7% to US$295/ton week on week. Australia’s iron ore price slid by 1.2% week on week.