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The continued price declines in the global scrap market and weakening of Taiwan's local steel market have led to a slump in scrap prices to Taiwan. Steel demand in Taiwan is gradually weakening, as the arrival of the rainy season has slowed construction projects, even though Covid-19 has not yet had an impact on construction activity. Local electric arc furnace mill Feng Hsin Iron & Steel has cut its rebar and scrap purchasing prices by TWD 500/t…
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Kallanish Asia
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