With the support of the better rebar trading observed this week and due to the recovery in the international scrap market, Taiwan’s import scrap market has moved to a more stable and positive trend this week. Major Taiwanese producer Feng Hsin has kept its local rebar prices unchanged week on week at TWD 18,500/mt ($573/mt) ex-works, increasing by $2/mt on dollar basis amid exchange rate fluctuations. Additionally, producers based in south Taiwan concluded deals close to TWD 18,000/mt ($557/mt) ex-works this week.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have remained stable over the past week at $359-360/mt CFR. The lowest price recorded in an actual deal was $353-355/mt CFR, indicating a $3-5/mt increase in actual prices.
Japanese scrap suppliers are sharing offers for H1/2 (50:50) scrap by bulk to Taiwan at $364-372/mt CFR, while last week this range was at $365-370/mt CFR. A major Taiwanese steel producer bought one scrap cargo from Japan at a price of $362/mt CFR.
Domestic HMS I/II 80:20 scrap prices in Taiwan have remained stable over the past week at TWD 11,300/mt ($349/mt) delivered to mill.
$1 = TWD 32.29