Feng Hsin announces increase in rebar and scrap purchasing prices

By Anil Mathews (ScrapMonster Author)

March 23, 2016 02:12:13 AM

BEIJING (Scrap Monster): Major Taiwanese long steel product manufacturer-Feng Hsin Iron and Steel Co. has decided to increase its scrap purchasing prices for the current week. Meantime, the company has also decided to hike its rebar prices. On the other hand, steel section base price will remain flat during the week.

According to the company press release, scrap purchasing prices will see a hike of NT$ 300 per ton when compared with the previous week. The scrap purchasing prices for the week will range between NT$ 5,800 per ton and NT$ 6,300 per ton, Feng Hsin press release stated. The prices had averaged at NT$ 5,500 - NT$ 6,000 per ton during the week before this. The prices were hiked by NT$ 400 per ton during the previous week.

The list prices of rebar will see a hike of NT$ 300 per ton during the current week. The price for the week will be at NT$ 12,200 per ton. The rebar list prices had averaged at NT$ 11,900 per ton during the previous week. The price for section steel during the week will be in the range of NT$ 16,500 per ton, remaining unchanged from the previous week prices.

The company has decided to hike the rebar prices on account of rising scrap prices. The global scrap prices continue to be supported by strong Chinese billet prices.

Feng Hsin Iron & Steel Co., Ltd is a Taiwanese company principally engaged in the manufacture, processing and distribution of iron and steel products. It is one of the largest steel long products manufacturers in Taiwan.