Reported about 1 year ago
Feng Hsin Steel announced a moderate increase in rebar prices by 200 yuan per metric ton for the week, marking the first rebound in 11 weeks after maintaining a low plateau. The increase is attributed to strong demand driven by improved weather conditions and reports of higher scrap steel prices overseas. Feng Hsin's spokesperson, Zhuang Wenzhe, emphasized that the price hike is necessary to reflect the rising cost of imported raw materials due to a strengthening foreign currency. With smoother shipments accompanied by the better weather, steel mills such as Ta Chen Steel, Walsin, and Hsingtai are expected to follow suit with price hikes.
Source: YAHOO