- Rebar reaches highest level since Aug’24
- Heavy rains disrupt construction activity
Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer and headquartered in Taichung in central Taiwan, has decided to raise its rebar list prices and local scrap purchase prices by TWD 200/tonne (t) ($6/t) respectively for transactions over 18 May-22 May, according to a company official.
This marks the company’s first price hike for these two items in the past month, bringing an end to four consecutive weeks of keeping them stable, Mysteel Global notes.
With the latest price adjustment, Feng Hsin is offering its 13mm-diameter rebar at TWD 19,100/t ($604/t) EXW for business discussions through until this Friday, the highest since Aug 2024, and its buying price for local HMS 80:20 scrap also reaches a 21.5-month high of TWD 10,300/t ($326/t), the official confirmed.
The Taiwanese mini-mill’s price markup is aimed at reflecting trends in both local and overseas markets, following price hikes for the two items already implemented by many other mini-mills on the island, the official explained.
Prices of global scrap delivered to Taiwan hovered high recently, suggesting a firm cost support for Taiwan’s steel market. As of 18 May, the price of US-sourced HMS 80:20 scrap came in at $364/t CFR Taiwan, taking a pause after the continuous rise over the prior two weeks. There was no quotation for Japan-origin H2 scrap, according to a local market source in Taiwan.
In the Chinese mainland however, rebar prices have retreated recently amid cooler market sentiment and reduced spot sales, partly as torrential rains in several cities of China have disrupted work at construction sites since late last week.
China’s national price of HRB400E 20mm rebar was assessed by Mysteel at RMB 3,468/t ($509/t) including 13% VAT as of 18 May, falling by RMB 40/t ($6/t) from one week ago.
Over 12 May-18 May, the combined daily trading volume of construction steel comprising rebar, wire rod and bar-in-coil among the 237 trading houses nationwide tracked by Mysteel averaged 93,216 t/day, lower by 25,853 t/d on week.
Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.
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