Feng Hsin Steel Co., Ltd., a leading long steel producer in Taiwan, adjusted its domestic price schedule, lifting rebar prices by NT$200 per ton to reach NT$18,300. Scrap steel quotations remain unchanged at NT$9,600 per ton, and section steel holds steady at NT$25,000 per ton.
The rebar price increase was in line with market expectations given recent transactions despite sluggish overall demand conditions.
International raw material markets showed Japanese H2 scrap flat at US$358 per ton, US containerized scrap edging up to US$344 per ton, and Australian iron ore rising to US$98.2 per ton. US bulk scrap prices remained unquoted last week.