Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, maintained this week’s purchasing price of scrap at NT$11,200/ton, and the price of rebar and section was also maintained at NT$20,000/ton and NT$26,300/ton, respectively.

There were no large transaction orders for rebars last week. It was estimated that there is little chance of large orders appearing this week as there are only three trading days left due to the coming Lunar New Year holiday.

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 fell by 0.5% week on week to US$381/ton, and the US containerized scrap price dropped by 0.5% week on week to US$375/ton. Australia’s iron ore price decreased by 6.2% week on week.