Taiwan Feng Hsin roll over rebar, scrap prices
Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung in central Taiwan, has decided to roll over its rebar list prices for transactions ov...
Consequently, for business discussions till this Friday, the mini-mill continues to offer its 13mm dia rebar at TWD 20,300/tonne ($662/t) EXW, taking a pause after the continuous rally over the prior four weeks, while its buying price for local HMS 1&2 80:20 scrap also stays the same on week at TWD 11,200/t during this week, according to the official.
Feng Hsin's decision was mainly to reflect the fall in new orders from steel consumers. "Local end-users are inactive in placing new orders as they are concerned that rebar prices may decrease after the continuous rise over the past month," the official explained.
However, scrap prices in global markets continued tracking upward last week, with the price of US-sourced HMS 1&2 80:20 material reaching $380/t CFR Taiwan as of December 26, growing for the fifth consecutive week by another $5/t on week. During the same period, the price of Japan-origin H2 scrap was reported at $405/t CFR Taiwan, higher by $10/t from one week earlier, according to a local market source.
Finished steel demand in Taiwan is expected to keep steady in the coming term, as many local contractors usually accelerate their pace of construction before the Chinese New Year holiday, hoping to complete the projects ahead of the long break, Mysteel Global noted.
"If global scrap prices continue to strengthen, end-users may return to the market again for replenishment to fulfill their needs," the Feng Hsin official suggested.
Written by Nancy Zheng, zhengmm@mysteel.com
This article has been published under an article exchange agreement between Mysteel Global and SteelMint.
