HRC market in Taiwan

The Taiwan HRC market is weakening. The delivery price has dropped by NTD1,000/mt ($30.5/mt) over the past two months to NTD17,000-17,500/mt ($520/mt-535/mt). Local hot strip mills (China Steel Corporation/ Chung Hung Steel/Shang Shin Steel Co) are offering domestic prices at NTD16,500-16,800/mt ex-works ($505-514/mt) for November shipment. Import HRC price offers are limited. It has been heard that MMK are inviting bids at $530-540/mt CFR FO basis. However, no positive response has yet been received. Most buyers are looking for $460-480/mt CFR FO basis for importing HRC for January shipment.