Taiwan Feng Hsin lowers rebar and scrap prices

Published: Jun 29, 2015 18:48

Save

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.

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.

Feng Hsin rebar price scrap price

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

16 hours ago

Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution

Federal Reserve Governor Milan pointed out that it is necessary for the US Fed to cut interest rates by more than 100 basis points this year. At the same time, he is very much looking forward to the performance of Kevin Warsh as Fed Chairman. However, Richmond Fed President Barkin emphasized that monetary policy must remain cautious until inflation fully pulls back to the target level, thereby ensuring the stability of the labour market.

16 hours ago

Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation

All 11 Democratic members of the US Senate Banking Committee jointly sent a letter to the committee's chairman, Tim Scott, requesting that all nomination processes for the prospective Fed Chairman, Kevin Warsh, be postponed until the criminal investigation into current Fed Chairman Powell and other board members is concluded. However, Scott stated that Warsh's confirmation was a done deal.

16 hours ago

Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027

The US Fed has announced that it will maintain the capital levels of large banks unchanged during the upcoming stress test cycle (corresponding to the 2026 cycle). At the same time, the US Fed is planning multidimensional reforms to this annual test, aiming to enhance its transparency. The US Fed's Vice Chair for Supervision, Bowman, revealed that adjustments to the stress capital buffer requirements for large banks will be postponed until 2027. This move is intended to provide the US Fed with sufficient time to evaluate potential flaws that may be exposed in its testing models when assessing banks' financial conditions under simulated economic downturn scenarios.

16 hours ago