By Anil Mathews (ScrapMonster Author)

October 13, 2015 05:25:15 AM

Feng Hsin Iron and Steel Co. has decided to cut its rebar and scrap purchasing prices. Meantime, section steel base prices will remain unchanged during the week.Taiwan’s Feng Hsin announces further cut in rebar and scrap buy prices

BEIJING (Scrap Monster): Major Taiwanese long steel product manufacturer-Feng Hsin Iron and Steel Co. has decided to reduce its rebar prices for the current week. The company has also decided to lower its scrap purchasing 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 be reduced by NT$ 500 per ton, when compared with the previous week. The scrap purchasing prices for the week will range between NT$ 4,000 per ton and NT$ 4,500 per ton, Feng Hsin press release stated.

The list prices of rebar will also see a cut of NT$ 500 per ton during the current week. The new price for the week will be NT$ 10,700 per ton. The rebar list prices had averaged at NT$ 11,200 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.

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.