Domestic rebar prices firm in Taiwan after FHS’ price hike

SteelOrbis has learned from market sources that domestic rebar prices in Taiwan are standing firm at NTD 17,900-18,000/mt ($615-619/mt) ex-works, after Taiwanese steel producer Feng Hsin Iron and Steel (FHS) increased its rebar sales price by NTD 300/mt ($10/mt) yesterday, November 19, to the benchmark price level of NTD 18,400/mt ($632/mt). In the meantime, steel mills are limiting their sales volumes as they are concerned by the prospects of a further scrap price hike, as FHS also increased its domestic scrap purchase price by NTD 300/mt to NTD 10,800-11,500/mt ($371-395/mt) for deliveries to mill.
 
With the latest price increase move by FHS, the company has now increased its domestic rebar prices for the fifth week in a row, with the total price increase reaching NTD 1,400/mt ($48/mt) from bottom levels of NTD 16,500/mt ($567/mt) ex-works in the last week of October.
 
$1 = NTD 29.10