Rising international scrap prices may support Taiwanese rebar prices
2 Dec 2019 16:07 reported by Claude Tseng
Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, remained its rebar and section steel prices and hiked its scrap purchasing prices by NT$200 last week.
According to understanding, Feng Hsin supplied limit allocation to distributors and it all sold out last week. Affected by this, the downstream customers thought the price might be increased this week.
Feng Hsin's move was tried to reduce the price gap with southern Taiwanese rebar mills, and southern rebar price was to be stimulated and up.
Under consideration of the international scrap price markup and domestic scrap source was limited, rebar mills might increase price this week. If the prices didn't rise, rebar mills might reduce the orders.
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