Taiwanese rebar mills adjust quotations on back of scrap price changes

SteelOrbis has been informed by market sources that Taiwanese mills have increased their rebar quotations in the domestic market by NTD 100-150/mt ($3-5/mt) to NTD 16,350-16,400/mt ($546-547/mt) ex-works amid recently increased scrap costs.
 
With an ex-US containerized HMS I/II 80:20 scrap deal concluded in Taiwan in the range of $342-343/mt CFR, indicating an increase of $3-4/mt as compared to previous levels, Taiwanese rebar mills strongly intend to push up their prices further and it is reported that NTD 16,500/mt ($551/mt) ex-works is the producers' target level for rebar prices next week.
 
$1 = NTD 29.97