That translated into earnings of NT$2.23 per share, jumping from NT$1.65 in the same period last year, company data showed.
Sales increased 24.88 percent year-on-year from NT$9.92 billion to NT$12.39 billion in the first half, while operating income rose 27.3 percent from NT$1.17 billion to NT$1.49 billion.
The firm said it expects the upward trend in global steel prices to continue in the near term.
Scrap steel prices in the US rose to US$320 from US$305 a week ago, while prices in Japan increased from US$285 to US$291, Feng Hsin said.
To reflect rising material costs, the Taichung-based company is raising its rebar prices for shipment this week by NT$200 per tonne, marking the fifth consecutive week of price increases.
Feng Hsin also hiked its channel steel prices for delivery this week by NT$600 per tonne, the company said in a statement on Monday.
The company said it does not expect any significant impact from the US Department of Commerce’s anti-dumping probe, given its small exposure to the US.
More than 90 percent of its rebars are sold domestically, a company official said yesterday.
The Department of Commerce launched the probe last month to determine whether Taiwanese exporters were dumping rebars in the US, hurting the interests of US steelmakers.
On July 21, the department released a statement saying exporters from Taiwan had sold rebars in the US at 3.5 percent to 32.01 percent less than fair value based on factual evidence provided by the interested parties.
The department said it would instruct US Customs and Border Protection (CBP) to collect cash deposits from importers of rebars from Taiwan based on these final rates.
Last year, Taiwan was the third-largest supplier of rebars to the US, with total exports reaching US$53.02 million, up from US$17.57 million a year earlier, data from the department showed.
Feng Hsin shares yesterday rose 1.93 percent to close at NT$52.70 in Taipei trading, beating the broader market, which edged up 0.1 percent to 10,437.29 points.
