Mysteel Global: Feng Hsin Steel, Taiwan’s largest rebar producer, headquartered in Taichung in central Taiwan, has decided to raise its rebar list prices and buying prices for local scrap by TWD 300/tonne ($9.1/t) respectively on week for transactions over March 3-7, according to a company official.
With the latest adjustments, the Taiwanese mini-mill is offering its 13mm dia rebar at TWD 18,500/t EXW for business discussions till this Friday, and its procurement price for local HMS 1&2 80:20 scrap reaches TWD 9,500/t, the official confirmed.
Feng Hsin’s decision was made to reflect better rebar demand from local end-users, as rebar sales in Taiwan performed stronger last week, Mysteel Global was told.
Meanwhile, prices of global scrap delivered to Taiwan have stayed firm recently, lending some support to Taiwan’s finished steel prices from the cost side.
As of March 3, the price of US-sourced HMS 1&2 80:20 scrap came in at $315/t CFR Taiwan, growing by $2/t from the prior week, and the price of Japan-origin H2 scrap remained stable at $320/t CFR Taiwan, the same level since the second half of February, according to a local market source.
On the contrary, rebar prices in the Chinese mainland weakened over the past week, as market sentiment softened with the slow demand recovery from domestic end-users and rising concerns over tariffs against Chinese steel exports, Mysteel Global learned.
For example, China’s national price of HRB400E 20mm dia rebar, a pointer to China’s steel-market sentiment, was assessed by Mysteel at Yuan 3,439/tonne ($472/t) including the 13% VAT as of March 3, lower by Yuan 20/t from one week before.
Rebar prices in the derivative market also declined, with the most-traded contract on the Shanghai Futures Exchange for delivery in May closing the daytime trading session at Yuan 3,296/t on March 3, falling by Yuan 42/t from the settlement price on February 24.
Note: This article has been written in accordance with a content exchange agreement between MySteel Global and BigMint.
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