By Paul Ploumis 29 Jun 2015 Last updated at 06:01:54 GMT
BEIJING (Scrap Monster): Major Taiwanese long steel product manufacturer-Feng Hsin Iron and Steel Co. has decided to leave its base prices of section steel unchanged for the week commencing June 29th, 2015. The company has decided to cut its scrap purchasing prices. Also, the company has also decided to cut the rebar prices for the week.
The list prices of rebar will see a cut of NT$ 200 per ton during the week. The prices had averaged at NT$ 13,300 per ton during the previous week. Post cut, the rebar prices will now average at NT$ 13,100 per ton. The price for section steel during the week will be in the range of NT$ 17,500 per ton, unchanged when compared with the previous week prices.
According to the company press release, scrap purchasing prices will also see a cut of NT$ 300 per ton over the previous week. The scrap purchasing prices for the week will range between NT$ 5,800 per ton and NT$ 6,400 per ton, Feng Hsin press release stated.
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.