Taiwan Feng Hsin cuts rebar list price $20/t
Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung in central Taiwan, has decided to trim its rebar list prices by TWD 600/tonne ($20/t)...
Feng Hsin Steel, Taiwan's largest rebar producer headquartered in Taichung in central Taiwan, has decided to trim its rebar list prices by TWD 600/tonne ($20/t) on week for transactions over August 8-12. But scrap dealers will still be getting the same price for their local scrap, according to a company official.
With the latest adjustment, the mini-mill is offering its 13mm dia rebar at TWD 19,200/t EXW for buyers till this Friday, the lowest since April 2021. However, its buying price for local HMS 1&2 80:20 scrap is unchanged on week at TWD 9,300/t after the price cut of TWD 500/t during the prior week, the official confirmed.
Scrap prices in global markets had shown signs of stabilizing recently, encouraging local mini-mills in Taiwan to hold their scrap procurement prices this week to monitor market changes in the coming term, Mysteel Global learned.
As of August 8, the price of US-sourced HMS 1&2 80:20 scrap registered $335/t CFR Taiwan, being unchanged on week after the decreases of the prior three weeks, according to a local market source. The price of Japan-origin H2 scrap also stayed the same on week at $340/t CFR Taiwan, taking a pause after sliding for two months, he said.
Feng Hsin's rebar list price declined this week due to the weak demand from construction companies and other users. "To facilitate sales, in actual business discussions last week we conceded a TWD 800/t reduction based on the list price, so the price cut this week is partly to reflect the discount," the company official explained.
As for the Chinese steel market, rebar prices have been rangebound recently due to the lackluster demand from local end-users and the gradual recovery in mills' output, Mysteel Global noted.
As of August 8, China's national price of HRB400E 20mm dia rebar under Mysteel's assessment, for example, came in at Yuan 4,312/tonne ($639/t) including the 13% VAT, edging up Yuan 12/t from one week before.
Written by Nancy Zheng, zhengmm@mysteel.com
This article has been published under an article exchange agreement between Mysteel Global and SteelMint.
