Downtrend of Taiwanese import scrap market continues in the current week, with both the US and Japan based scrap suppliers accepting lower levels in actual deals. Meanwhile, rebar prices in the country are also moving down. In the current week, major Taiwanese producer Feng Hsin’s rebar prices have decreased by TWD 300/mt or $5/mt to TWD 18,800/mt ($599/mt) ex-works. SteelOrbis has learned that Feng Hsin has concluded deals this week, market players believe the current domestic rebar prices are close hitting the bottom. Some other Taiwanese producers that already closed some sales last week, have concluded limited rebar deals in the current week at TWD 18,400/mt ($586/mt) ex-works, down from TWD 18,500-18,600/mt ($585-588/mt) ex-works recorded last week.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan were at $355-368/mt this week, the range widening over the past week when offers were around $363/mt CFR. There are deals done for ex-US containerized material at $355/mt CFR, meaning the actual price has declined by $5-8/mt.
Japanese scrap suppliers’ offers for H1/2 (50:50) scrap by bulk to Taiwan have moved down by $5-10/mt to $370-375/mt CFR over the past week. Early this week, a major Taiwanese producer has concluded a deal from Japan for this grade at $368/mt CFR. Market sources report that the number of offers coming out of Japan are still not much.
Domestic HMS I/II 80:20 scrap prices in Taiwan have also moved down this week by TWD 300/mt or $6/mt to TWD 11,300/mt ($360/mt) delivered to mill.
$1= TWD 31.40