24. Feb. 2010
Japan’s scrap price has soared to US$390/ton and the U.S. scrap price has increased to US$363/ton during Chinese New Year vacation.
Because of the snowstorm in North America, it caused the scrap collection become more difficult and push the scrap price to go up and Japan’s scrap price has increased by about 8.3 percent recently; therefore, "Feng Hsin Iron & Steel"-Taiwan’s major steel long products producer- has also hiked its scrap purchasing price by 2.67 percent and rebar offer price by 1.6 percent.
The company may rise their price again later if the domestic market demand keeps going well in order to match the global steel price level.
[ScrapMetalPrices]
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