Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, announced its latest price adjustments for this week, with rebar prices rising more sharply than scrap. Rebar increased by NT$500 to a new list price of NT$18,000/ton, and scrap rose by NT$200 to NT$9,000/ton. Section steel remains steady at NT$24,000/ton.

The larger rebar increase exceeded the modest hike of the past two months. This decision reflected a struggle to match rising international raw material costs, which made purchasing difficult for mills.

Feng Hsin said that there were no offers from the US scrap shipment last week. Japan’s H2 scrap rose to US$348/ton, and US containerized scrap also grew to US$333/ton. Besides, Australian iron ore increased to US$109.95/ton.