Taiwan Feng Hsin cuts rebar, scrap prices by $10-13.5/t

Feng Hsin Steel, Taiwan's largest rebar producer headquartered in Taichung, central Taiwan, has decided to lower its rebar list prices and procurement prices for locally-sourced scrap again, slashing these by TWD 300-400/tonne ($10.1-13.5/t) for transactions over May 9-13 to reflect falling global scrap prices, a company official confirmed on Tuesday.

With the latest adjustment, the mini-mill's list price for 13mm dia rebar reaches TWD 23,800/t EXW for business transactions till this Friday, down for the third week by another TWD 400/t from the previous week, according to the official. The steelmaker's buying price for local HMS 1&2 80:20 scrap