Taiwan: Feng Hsin raises rebar, scrap prices on higher costs

• Scrap purchase prices hit 20-month high
• US, Japan scrap import prices trend upward

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 for transactions over 13 April-17 April to reflect the higher prices of global scrap delivered to Taiwan, according to a company official.

With the latest price adjustment, the Taiwanese mini-mill is offering its 13mm-diameter rebar at TWD 18,900/tonne (t) ($598/t) EXW for business negotiations till this Friday, up by TWD 200/t ($6/t) on week and recording the highest since mid-August 2024.

For this week too, the company’s buying price for local HMS 80:20 scrap is at a 20-month high of TWD 10,100/t ($319/t), higher by a shaper TWD 300/t ($9/t) from last week’s TWD 200/t ($6/t) rise, the official confirmed.

Prices of global scrap delivered to Taiwan have been rising steadily since the beginning of this year, lifting production costs for local mini-mills and encouraging them to raise their rebar list prices and buying prices for local scrap accordingly, as reported.

As of 13 April, the price of US-sourced HMS 80:20 scrap had reached $358/t CFR Taiwan, growing by $5/t on week, while that of Japan-origin H2 scrap was at $370/t CFR Taiwan, a jump of $20/t compared with the price three weeks earlier, according to a local market source in Taiwan. There were no quotations for Japan-origin H2 scrap over the prior two weeks, as reported.

Rebar prices in the Chinese mainland remained rangebound during 7 April-13 April with the uncertainties influencing global markets. Meanwhile, demand from end-users was not as strong as expected, even though construction steel sales in the physical market have continued to improve, Mysteel Global noted.

On 13 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 3,327/t ($488/t) including 13% VAT, up by RMB 4/t ($1/t) from 7 April, the first working day after the Qingming Festival holiday.

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