Posted on 06 May 2010
Taiwan's rebar market improves
Taiwan’s Feng Hsin Iron & Steel announced to reduce its rebar price by NT$700/ton on this Monday; however, most distributors are showing no interests to make new purchases.
China and Turkey's scrap buyers have purchased huge quantity bulk vessel scrap from United States. One senior steel market analyst said the current market price for iron ore is about US$180/ton; base on that, the reasonable scrap price should be about US$430/ton.
Additionally, the scrap price is only about US$405 to 410/ton, and the analyst believes the scrap price will rebound again soon.
Therefore, most of Taiwan's rebar distributors and buyers have become more willing to purchase now.
