Feng Hsin Steel Co., Ltd., a leading electric furnace mill in Taiwan, raised the price of rebar by NT$300 to NT$18,500/ton and the purchase price of scrap by NT$300 to NT$9,300/ton, while the section steel price was kept flat at NT$24,700/ton. The increase in rebar price this week aligned with market expectations.

Feng Hsin said there were no offers from the US scrap shipment last week. During the same period, the price of Japan’s H2 scrap remained unchanged at US$320/ton, and the US containerized scrap price rose slightly by 0.6% to US$315/ton. Australia’s iron ore price decreased by 5% to US$103.45/ton.