Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, has announced its pricing adjustments for this week, deciding to increase the scrap price by NT$200/ton while keeping rebar and section steel prices unchanged.

The new list price for scrap is now NT$7,800/ton, up from NT$7,600. Rebar remains flat at NT$16,200/ton, and section steel is unchanged at NT$23,000/ton. The flat rebar price was in line with market expectations.

Feng Hsin said that there were no offers from the US scrap shipment and Japan’s H2 scrap last week. US containerized scrap was unchanged at US$300/ton, and Australia’s iron ore prices rose by 2.2% to US$106.3/ton.