Taiwanese long steel maker Feng Xin Co, a steel company, has decided to cut rebar prices by $ 200 per tonne for the period starting October 13. Long products prices will be reduced by $ 300 per ton during the week. At the same time, purchase prices for scrap metal will remain unchanged this week.
According to the company's press release by Feng Xin, the average price of rebar will be reduced to $ 16,900 per ton. The price of bar steel in the near future will be in the range from $ 19,100 per tonne to $ 19,300 per tonne.
For construction companies that provide equipment rental services, Feng Xin will provide seasonal discounts due to which steel formwork rental will cost somewhat less.
Purchase prices for ferrous scrap are promised to remain unchanged for a week. The scrap price remains in the range between $ 19,100 - $ 19,300 per tonne. The company has kept its rebar and bar prices unchanged over the past week. The purchase price of scrap metal remains unchanged for two weeks.
It should be noted that China consumes most of the total world use of valves. In addition, Asian markets account for more than 70 percent of global rebar and bar consumption. At the same time, the market share of rebar is about 43 percent, followed by wire rod with a share of 27 percent. These products are mainly used in the construction industry.
Taiwanese Feng Xin cuts prices for rebar and long products
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Azovpromstal® 13 October 2014 г. 11:03 |
