Feng Hsin, one of the steel long product makers in Taiwan announced to cut its rebar list prices by NT$300/ton to NT$18,400/ton for this week. Also, the company cut its section steel prices by NT$500/ton to NT$20,500~NT$20,700/ton for this week. However, Feng Hsin remained its scrap purchasing unchanged at NT$11,400~NT$12,100/ton for this week. In fact, Feng Hsin cut the scrap price in advance last week. According to understanding, the buying is still weak in the market. This is the main reason that Feng Hsin decided to cut the selling price this week.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63640&division=A4
