Feng Hsing, a leading long steel producer in Taiwan, decided to keep its steel prices unchanged this week. The base price for rebar remained at NT$16,200/ton, scrap at NT$7,600/ton, and section steel held steady at NT$23,300/ton.

This week's unchanged rebar price slightly exceeded market expectations. Last week saw a large volume of rebar transactions, so distributors had hoped for a price increase to boost sales momentum. However, international scrap prices remained stable with little change. With raw material prices remaining stable, it was reasonable for finished product prices to stay steady as well.

Feng Hsing also reported no offers from the US scrap shipment last week. Japan’s H2 scrap rose from US$303/ton to US$305/ton, US containerized scrap increased from US$293/ton to US$298/ton, and Australian iron ore rose from US$98.5/ton to US$99.75/ton.