According to the market in Taiwan, domestic rebar demand has rebounded two weeks ago and the price trend also continued to increase last week.
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The main reason for the price increase is due to a sharp increase in scrap imports from Turkey, which causes downstream supplies to increase, leading to higher prices. However, as the majority of steel mills’ inventories have turned to high levels, the market expects market prices to remain unchanged this week.
Feng Hsin Steel Co., Ltd., one of the major electric furnace plants in Taiwan, announced its product price this week.
According to the announcement, rebar price is unchanged at NT $ 14,300 / ton, while section steel is down NT $ 500 / ton, to NT $ 18,500-18,800 / ton.
For scrap, the purchase price was increased by NT $ 200 / ton, reaching NT $ 7,100-7,600 / ton.