Taiwan: Feng Hsin lifts rebar prices, raises scrap purchase rates

• Move marks 6th consecutive w-o-w price increase
• Higher global scrap prices drive price hike decision

Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung in central Taiwan, has decided to lift its rebar list prices and buying prices of local scrap for transactions over 7-10 April to reflect the steady rise in global scrap prices, a company official confirmed on Tuesday morning.

The company held its weekly pricing meeting on Tuesday instead of Monday, due to the public holiday over 3-6 April for the Qingming Festival and Children’s Day, Mysteel Global noted.

With the latest price adjustment, the Taiwanese mini-mill is offering its 13mm-diameter rebar at TWD 18,700/tonne (t) ($589/t) EXW for business negotiations till this Friday, boosting prices by TWD 200/t ($6/t) and making for its sixth consecutive on-week increase.

At the same time, Feng Hsin is now paying suppliers of local HMS 80:20 scrap TWD 9,800/t ($308/t) after raising its buying price for this grade by TWD 200/t ($6/t) on week, according to the official.

Feng Hsin’s official explained that the main reason for deciding to raise its product prices was the increase in its production costs, as prices of global scrap delivered to Taiwan continue to strengthen.

As of 7 April, the price of US-sourced HMS 80:20 scrap was higher by $8/t at $353/t CFR Taiwan, increasing steadily since the start of this year and now at its highest level since late May 2024. There was no quotation for Japan-origin H2 scrap, according to a local market source in Taiwan.

Rebar prices in the Chinese mainland kept rangebound recently, as firm raw material prices lent cost support to the prices, while the slower-than-expected recovery in demand from end-users put some pressure on the spot market, Mysteel Global learnt.

As of 3 April, China’s national price of HRB400E 20mm rebar-an indicator of the country’s domestic steel-market sentiment-was assessed by Mysteel at RMB 3,329/t ($488/t) including 13% VAT, higher by RMB 5/t ($1/t) from one week earlier.

Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.