Taiwan's Feng Hsin Iron & Steel has announced its intention to cut its rebar price early on October 2nd 2009 due to the dropping international scrap price. Usually, the new price is announced every Monday.

Feng Hsin Iron & Steel's rebar price has fallen by TWD 300 per tonne, hitting TWD 17,100 per tonne. Meanwhile, the scrap purchasing price has dropped by TWD 300 per tonne, reaching TWD 10,200 to TWD 10,700 per tonne.

Currently, demand remains weak and buyers are not taking the risk of buying at this moment.

(Sourced from YIEH.corp)