Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, announced it will maintain flat prices this week for rebar, scrap, and section steel, in line with market expectations.

Rebar remains at NT$16,400/ton, scrap at NT$8,000/ton, and section steel at NT$23,000/ton. The stable price decision comes after quiet rebar trading last week, as the market undergoes an inventory reduction. Feng Hsin expects stable pricing to encourage slow, scattered orders this week.

Feng Hsin said that there were no offers from the US scrap shipment last week. Japan’s H2 scrap remained flat at US$315/ton, and US containerized scrap was also unchanged at US$300/ton. However, Australian iron ore fell slightly by 1.9% to US$103.7/ton.