- Feng Hsin raises rebar prices for 1st time in 3 months
- Chinese rebar strengthens on low output, restocking
Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer, has raised its rebar list price and its procurement price for local scrap for transactions over 17-21 November, a company official confirmed. Notably, this is the first time in the past three months that Feng Hsin has raised its rebar prices.
Following the latest price adjustment, the mini-mill is offering 13-mm diameter rebar at TWD 16,400/tonne (t) ($526/t) EXW through Friday, up TWD 200/t (6/t) from the prior week. Its buying price for local HMS 80:20 has also increased by TWD 200/t (6/t) to TWD 8,200/t ($263/t), according to the official.
Prices for imported scrap delivered to Taiwan have remained stable recently. US-origin HMS 80:20 scrap held firm at $300/t CFR Taiwan, unchanged since late September, while Japan-origin H2 scrap was reported at $315/t CFR Taiwan, the same level as a month earlier, according to a local market source.
Feng Hsin has raised its rebar prices for the first time in three months as part of efforts to improve profitability, Mysteel Global noted. The price adjustment encouraged some end-users to return to the market for restocking.
However, Taiwan’s rebar demand has yet to see a significant recovery, even though the fourth quarter is traditionally the peak season for local steel consumption amid expectations of accelerated construction activity.
Elsewhere, rebar prices in the Chinese mainland strengthened over the past week, supported by low output levels at domestic steel mills and firm cost-side support. Some Chinese mills have also attempted to lift their rebar list prices due to thin profit margins, Mysteel Global noted.
As of 17 November, China’s national price of HRB400E 20mm rebar — an indicator of domestic steel-market sentiment — was assessed by Mysteel at RMB 3,268/t ($459/t) including 13% VAT, up RMB 45/t ($6/t) w-o-w, and the highest since 29 September.
Meanwhile, construction steel sales in China’s physical market improved with end-users’ replenishments. Over 11-17 November, the combined daily trading volume of rebars, wire rods, and bar-in-coil among 237 Chinese trading houses under Mysteel’s tracking averaged 105,307 t/day, an increase of 6,940 t/d or 7% from the previous week.
Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.
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