Taiwan's Feng Hsin cuts rebar, scrap prices by $6/t

Taiwan's largest rebar producer, Feng Hsin Steel, headquartered in Taichung in central Taiwan, has decided to trim its rebar list price and local scrap purchasing price by TWD 200/tonne ($6.2/t) respectively from the previous week for transactions over July 6-10 in response to lackluster demand from end users, according to a company official.

For business discussions through this Friday, Feng Hsin is offering its 13mm-diameter rebar at a four-month low of TWD 17,900/t EXW. Meanwhile, the mini-mill's buying price for local HMS 1&2 80:20 scrap stands at TWD 9,400/t, the lowest since late March, the official confirmed. Prices of global steel scrap delivered