Taiwan’s Feng Hsin hikes rebar and scrap prices

BEIJING (Scrap Monster): Major Taiwanese long steel product manufacturer-Feng Hsin Iron and Steel Co. has decided to increase its rebar and scrap purchasing prices for the current week. Also, the company has decided to keep its steel section base price unchanged.

The company had cut the base price of rebar several times during the previous five weeks. Feng Hsin has cut the rebar base price by as much as NT$ 1,900 per ton over this period. This is after a long gap that the company has announced hike in rebar and scrap purchasing prices.

According to the company press release, scrap purchasing prices will be increased from the prices during the previous week. The scrap purchasing prices for the week will range between NT$ 4,800 per ton and NT$ 5,300 per ton, increasing by NT$ 200 per ton from the previous week, Feng Hsin press release stated.

The list prices of rebar will also see slight improvement during the week. The prices will be increased to NT$ 11,700 per ton during this week, increasing by NT$ 300 per ton over the previous week. The price for section steel during the week will be in the range of NT$ 17,000 per ton, remaining unchanged from the previous week prices.

Feng Hsin Iron & Steel Co., Ltd is a Taiwanese company principally engaged in the manufacture, processing and distribution of iron and steel products. It is one of the largest steel long products manufacturers in Taiwan.