Domestic rebar sales in Taiwan have been limited this week. A Taiwanese source stated, “People only buy when they have no stocks or cannot wait anymore.” According to sources, Feng Hsin has kept its local rebar prices stable this week at 18,700/mt ($597/mt) ex-works, while its dollar-based prices have declined by $5/mt week on week due to the depreciation of the Taiwanese dollar.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have been at $355-365/mt CFR this week, lower than $365/mt CFR recorded last week. However, market sources report that US offers have been very limited.
At the same time, Japanese scrap suppliers have decreased their offers for H1/2 (50:50) scrap by bulk to Taiwan from $378-395/mt CFR to $375-380/mt CFR. “Offers for H1/2 (50:50) scrap have almost disappeared this week, while a limited number of deals were still above $370/mt CFR,” a source at a Taiwanese mill commented.
Domestic HMS I/II 80:20 scrap prices in Taiwan are still at TWD 11,500/mt ($367/mt) delivered to mill, $3/mt lower than last week due to the fluctuation of the Taiwanese dollar. Domestic scrap prices have remained stable amid the sideways movement of local rebar quotations.
$1 = TWD 31.34