Feng Hsin, the leading long steel producer in Taiwan, has increased its local rebar prices this week for the first time since July. The prices have moved up by NTD 200/mt ($6.5/mt) to NTD 15,700/mt ($514/mt), SteelOrbis learned. Moreover, the producer has increased local scrap purchasing price by the same amount.
The increase was pushed by higher import scrap prices. As SteelOrbis reported earlier, last week deal prices for ex-US HMS I/II (80:20) scrap was $235-240/mt CFR Taiwan and market sources reported that offers at above $240/mt CFR have already been voiced.
$1= NTD 30.515