It is said that Taiwanese Feng Hsin has cut its rebar and scrap collection price unexpectedly today, which brought surprise to most market participants.
The company said they will cut both its rebar and scrap collection prices by NT$200/ton, meaning its new scrap collection price at NT$10,700~11,600/ton level and rebar base price at NT$17,800/ton.
For most other Taiwanese rebar mills, they said it is not the good timing for Feng Hsin to cut its scrap price. However, some downstream users were undeterred since it may push rebar demand to rise before the coming Chinese New Year vacation.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=68142&division=A4
