December 03, 2008

Taiwanese domestic rebar prices hit record high level

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.

Feng Hsin said it made the adjustments to reflect its increased costs, pointing out that the Japanese scrap steel price has risen to USD 530 per tonne, while the domestic steel billet price has jumped to TWD 26,000 per tonne.