Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, announced this week that rebar, scrap, and section steel prices will remain unchanged, with prices holding at NT$17,800/ton, scrap at NT$9,000/ton, and section steel at NT$25,000/ton.

The price announcement was in line with market expectations, following a quiet week for transactions.

Feng Hsin said that there were no offers from the US scrap shipment last week. Japan’s H2 scrap steel remained unchanged at US$350/ton, and US containerized scrap remained flat at US$330/ton. Australia’s iron ore prices dropped to US$96.55/ton from US$98.9/ton.