Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, lowered its domestic prices this week, reducing rebar by NT$300 per ton and scrap steel by NT$200 per ton. The new price for rebar is NT$17,600 per ton, down from NT$17,900, and scrap steel dropped to NT$9,000 per ton from NT$9,200. Section steel remains unchanged at NT$25,000 per ton.

The rebar price reduction met market expectations, though buyers remain hesitant to increase order volumes.

In terms of raw materials, Australian iron ore rose from US$99.25 to US$100.75 per ton. For scrap, US containerized scrap dropped from US$340 to US$335 per ton. Meanwhile, Japanese H2 scrap stood at US$355 per ton, and US bulk scrap lacked new price offers last week.