While offers from supplier regions to Taiwan have remained stable, the actual prices in deals have softened this week. Market sources also report that the number of offers shared with Taiwanese buyers is declining. Domestic rebar prices in Taiwan have reached the lowest point of the last 4,5 years, market sources report and rebar buyers are trying to limit their tonnages. Meanwhile, the major Taiwanese producer Feng Hsin has reduced its domestic rebar prices by TWD 200/mt to 15,600/mt ($532/mt) ex-works, with dollar-based prices down by $8/mt taking the exchange rate into account.
Over the past week, the number of offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have remained scarce while the offer prices moved up from $293-295/mt CFR to $297-300/mt CFR. Actual deal prices softened by $3/mt on the upper end to $290/mt CFR, but market sources report that from now on $295/mt CFR would be tradable.
Offered prices for Japanese H1/2 (50:50) scrap bulk cargoes have remained unchanged in the range of $308-309/mt CFR but in numbers they are few. The actual price in deals has softened on the upper end by $4/mt to $305/mt CFR with a deal closed earlier this week.
Over the past week, Feng Hsin has lowered its scrap procurement prices by TWD 200/mt week on week to TWD 8,400/mt ($286/mt) delivered, down by $8/mt on US dollar basis. This price cut was a response to the price cut done by other mills last week.