10 May : Feng Hsin to reduce rebar price by TWD 700 a tonne

Taiwan's Feng Hsin Iron & Steel announced to reduce its rebar price by TWD 700 per tonne, 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 USD 180 per tonne, base on that, the reasonable scrap price should be about USD 430 per tonne.

Additionally, the scrap price is only about USD 405 to USD 410 per tonne, 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.

( from YIEH.corp)

To contact MNN staff for this story: Kylin at +86-13408435402 or metalnewsnet@gmail.com

Article: 10 May : Feng Hsin to reduce rebar price by TWD 700 a tonne
Keywords: Home - Tungsten - Ferro Tungsten
Channel: Metal - News
Posted: 2010-5-10 9:01:48 by Metalnewsnet
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10 May : Feng Hsin to reduce rebar price by TWD 700 a tonne

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