Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, maintained this week’s purchasing price of scrap at NT$10,800/ton, and the prices of rebar and section steel were kept flat at NT$19,400/ton and NT$26,300/ton, respectively. The flat increase in rebar prices this week was as market expectation.

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 the US containerized scrap both rose by 1.4% week on week. Australia’s iron ore price increased by 0.7% week on week to US$130.25/ton.