It’s reported that Feng Hsin, one of the major steel long producers in Taiwan announced to cut the prices for rebar, scrap and section steel products for this week. Affected by the sharp decrease of iron ore price, Feng Hsin decided to reduce its rebar prices by NT$300/ton. Also, Feng Hing cut the section steel prices by NT$300/ton. Meanwhile, Feng Hsin also lowered scrap purchasing prices by NT$200/ton. After the price announcement, the company’s list prices for rebar are at NT$17,000/ton; those for scrap are at NT$10,300~NT$11,000/ton and those for section steel are at NT$19,000~NT$19,200/ton. Downstream customers said the price cut met the expectation.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64748&division=A4
