Taiwan’s import scrap market has been following diverse trends. Ex-US offers to Taiwan have softened a little, though prices in the actual deals have increased. On the other hand, Japanese offers have increased week on week due to the depreciation of the Japanese yen. Rebar sales in Taiwan have been slow this week. According to one source, “Taiwanese mills have done rebar deals totaling a few thousand tons.” Some players expect prices to increase in the coming week. Major Taiwanese producer Feng Hsin has kept its rebar price at TWD 19,100/mt ($609/mt) ex-works, with the price on dollar basis down by $4/mt amid exchange rate fluctuations.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan are now at $375-385/mt, from $377-387/mt CFR recorded last week. A producer booked deals for this grade at $377-382/mt CFR, while others have closed deals at $375-380/mt CFR. Ex-US scrap prices to Taiwan have increased by $2/mt week on week.
Japanese scrap suppliers’ offers for H1/2 (50:50) scrap by bulk to Taiwan have increased to $390-411/mt CFR from $383-400/mt CFR last week. No deal in this range has been heard this week. The depreciation of the Japanese yen to 148 against the US dollar has had a positive impact on the rise in offers.
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved sideways over the past week at TWD 11,800/mt ($376/mt) delivered to mill, moving down by $3/mt.
$1 = TWD 31.39