Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, announced that it will maintain prices for rebar, scrap, and section steel this week. Rebar price is unchanged at NT$16,700/ton, scrap at NT$8,000/ton, and section steel at NT$23,700/ton.

The flat rebar prices are in line with market expectations. The transactions were low last week, with southern Taiwan experiencing unclear pricing. Orders obtained through rebates were not considered normal market trades. Prices remain unchanged as the market awaits stronger buying interest. Any continuation of the rebate system depends on steel mill announcements.

Feng Hsin said that there were no offers from the US scrap shipment last week. Japan’s H2 scrap steel fell by 0.6% to US$313/ton, and US containerized scrap remained flat at US$295/ton. Australia’s iron ore prices slid by 0.9% to US$93/ton.