Taiwan's Feng Hsin trims rebar, scrap prices further

Taiwan's largest rebar producer, Feng Hsin Steel, headquartered in Taichung in central Taiwan, has decided to cut its rebar list price and local scrap purchasing price further by TWD 200-300/tonne ($6.2-9.3/t) for transactions over July 13-17 given the persistent weakness in global scrap prices and poor steel demand from local end-users, according to a company official.

For business discussions through this Friday, Feng Hsin is offering its 13mm-diameter rebar at TWD 17,600/t EXW, down by TWD 300/t from one week before, while the mini-mill's buying price for local HMS 1&2 80:20 scrap sits at TWD 9,200/t with a TWD 200/t cut from the week prior,