Feng Hsin, one of the major steel long product manufacturers in Taiwan announced to cut its scrap purchasing prices further by NT$100~NT$200/ton from October 9th.
IT's said that the firm decided to reduce the scrap purchasing prices as the prices of rebar and Al-killed wire rod dropped sharply in the Taiwanese domestic market.
After the price cut, Feng Hsin's scrap base prices are at NT$10,100~NT$10,200/ton averagely