Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer, has decided to cut its rebar list prices again, slashing by TWD 300/tonne ($9.2/t) for transactions over April 14-18, and its buying prices for local scrap have been lowered by a total of TWD 500/t compared with the end of March, according to a company official.
The Taiwanese mini-mill cancelled its weekly pricing meeting on Monday of last week after deciding to hold prices and monitor market trends following the public holiday over April 3-6 for the Qingming Festival and Children’s Day, Mysteel Global learned.
With the latest price adjustment, Feng Hsin is offering its 13mm dia rebar at TWD 17,800/t EXW for business discussions till this Friday, and its procurement price for local HMS 1&2 80:20 scrap reaches TWD 8,800/t, down TWD 200/t on Monday after the price cut of TWD 300/t on April 12, the official confirmed.
Prices of global scrap delivered to Taiwan declined, which was considered one major reason for Feng Hsin’s price cut this week, Mysteel Global noted.
As of April 14, the price of US-sourced HMS 1&2 80:20 scrap came in at $308/t CFR Taiwan, falling by $10/t on fortnight, and the price of Japan-origin H2 scrap slipped by $10/t during the same period to reach $325/t CFR Taiwan, according to a local market source.
In parallel, U.S. President Donald Trump unveiled the so-called “reciprocal tariffs” on most trading partners, which has triggered significant global market volatility and resulted in a decrease in commodity prices including steel products, Mysteel Global learned.
Finished steel prices in the Chinese mainland lost ground with the escalating trade tensions between the United States and China. As of April 14, the national price of HRB400E 20mm dia rebar, a pointer to China’s steel-market sentiment, was assessed by Mysteel at Yuan 3,300/tonne ($451/t) including the 13% VAT, still lower by Yuan 10/t from one week earlier though it had recovered by Yuan 35/t from the recent low on April 9.
Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.
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