Author: Paul Ploumis02 Mar 2015 Last updated at 04:32:52 GMT
BEIJING (Scrap Monster): Major Taiwanese long steel product manufacturer-Feng Hsin Iron and Steel Co. has decided to reduce its rebar prices for the week commencing March 2nd, 2015. Also, the scrap purchasing prices will also be reduced during the week. Feng Hsin cites weak domestic market demand as the major reason for the cut in weekly price.
According to company press release by Feng Hsin, the list prices for rebar will now be at NT$ 14,700 per ton, NT$300 lower when compared with the previous week.
The scrap purchasing prices too have been lowered. The scrap prices for the week will be in the range between NT$ 7,400 to NT$ 8,300 per ton, down by NT$200 from the week before.
According to industry experts, the company will most likely cut the base price for small sections during the week.
Feng Hsin Iron & Steel Co., Ltd is a Taiwanese company principally engaged in the manufacture, processing and distribution of iron and steel products.