Taiwanese domestic rebar prices hit record

It is reported that Taiwan domestic rebar prices rose to a new high with Feng Hsin Iron and Steel Co one of the country's main rebar makers, adjusting its wholesale rebar price upward by TWD 800 (USD 26.50) per tonne to TWD 28,300 per tonne.

The report added that Feng Hsin Iron and Steel Co also increased its wholesale price for H shaped steel girders by TWD 400 per tonne to TWD 28,600 per tonne and increased its offer for steel scrap by TWD 400 per tonne to TWD 15,700 per tonne.

Rebar wholesalers said that Feng Hsin's new rebar price is still below prices on the domestic market, which have already risen to between TWD 2,8500 and TWD 29,000 per tonne.

 Price in the international market holds on a track. Export offer of rebar from CIS gained USD 180 per tonne last week. At present, the order price for April or May shipment is USD 920 per tonne to USD 930 per tonne while export offer already climb to USD 950 per tonne to USD 960 per tonne. In other regions of Europe, the local sales price gained some EUR 30 per tonne to EUR 570 per tonne to EUR 600 per tonne compared with EUR 540 per tonne to EUR 570 per tonne two weeks ago.