Author: Paul Ploumis13 Oct 2014 Last updated at 03:56:50 GMT
BEIJING (Scrap Monster): Major Taiwanese long steel product manufacturer-Feng Hsin Iron and Steel Co. has decided to cut the prices of rebar by NT$ 200 per ton for the week commencing October 13th. The prices of section steel will be reduced by NT$ 300 per ton for the week. Also, the scrap purchasing prices will remain unchanged during the week.
According to company press release by Feng Hsin, the list prices for rebar will be reduced to NT$ 16,900 per ton. The price for section steel during the week will be in the range NT$ 19,100 per ton to NT$ 19,300 per ton.
The scrap purchasing prices has been kept unchanged for the week. The scrap prices will continue to remain in the range between NT$ 19,100 to NT$ 19,300 per ton.
The company had kept its rebar and section steel prices unchanged during the past week. The scrap purchasing prices too had remained flat during the previous week.