Feng Hsin, one of the major rebar producers in Taiwan, has decided to cut rebar prices by TWD 300 per tonne to TWD 21,000 per tonne for this week, in response to the changed electricity policy.

It's known that the Taiwanese government announced to change its electricity policy last week. It decided to separate the electricity price hike into three phases. The first price rise will become effective on June 10th 2012.

Meanwhile, Feng Hsin also cut the scrap list prices by TWD 200 per tonne to TWD 12,800 to TWD 13,600 per tonne while it remained the list prices of section steel unchanged at TWD 22,900 to TWD 23,100 per tonne for this week.

Source - www.yieh.com)