- Feng Hsin cuts rebar and scrap prices amid weak global scrap.
- US HMS scrap hits 4.5-year low, affecting Taiwan.
Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer, has decided to cut its rebar list prices and procurement prices of local scrap for transactions over 5-9 May 2025 in response to the persistent weakness in global scrap prices, Mysteel Global has learned.
With the latest adjustment, from Monday the mini-mill is offering its 13mm dia rebar at TWD 17,400/tonne (t) ($577/t) EXW for business discussions till this Friday, lower by TWD 400/t ($32/t) from one week before, while its procurement price for local HMS 80:20 scrap sits at TWD 8,200/t, down by another TWD 300/t ($271/t) after the price cut of TWD 300/t ($10/t) on 30 April, a company official confirmed.
One reason for Feng Hsin’s price cuts is the continuous decrease in prices of global scrap delivered to Taiwan, reducing the production costs of local mini-mills to some extent and removing the support for rebar prices, Mysteel Global learned.
As of 5 May for example, the price of US-sourced HMS 80:20 scrap was reported at a 4.5-year low of $288/t CFR Taiwan, slipping for the fifth consecutive week by $7/t on week. There was no quotation for Japan-origin H2 scrap over the past week due to the public holiday in Japan, a local market source in Taiwan said.
As for the steel market in the Chinese mainland, rebar prices kept rangebound before the Labour Day holiday there over May 1-5, as the lackluster rebar demand from end-users restricted the increase in prices, Mysteel Global noted.
As of 30 April, the last working day before the five-day break, the national price of HRB400E 20mm dia rebar, a bellwether of domestic steel-market sentiment, was assessed by Mysteel at RMB 3,351/t ($464/t) including the 13% VAT, slipping by RMB 22/t from the recent high on 27 April.
Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.
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