Taiwan's Feng Hsin cuts rebar, scrap prices further

Taiwan's largest rebar producer, Feng Hsin Steel, headquartered in Taichung in central Taiwan, has decided to trim its rebar list price and the buying price of local scrap further for transactions over June 8-12 in response to the continuous fall in global scrap prices. according to a company official.

With the latest adjustment, Feng Hsin is offering its 13mm-diameter rebar at TWD 18,400/tonne ($582/t) EXW for business discussions through this Friday, down by TWD 300/t on week and marking a third consecutive weekly decline. Meanwhile, its buying price for local HMS 1&2 80:20 scrap now sits at TWD