Taiwan’s import scrap market has remained stable this week. Meanwhile, the Taiwanese rebar market is sluggish in terms of trading “due to hot weather and Asian billet prices,” a source commented. He added, “Given the hot weather, deliveries and shipping activities to end-users are extremely slow and TWD 100/mt delivery discounts for all mills do not help.” In the current week, major Taiwanese producer Feng Hsin has raised its domestic rebar prices by TWD 200/mt to TWD 18,700/mt ($575/mt) ex-works, with the dollar-based prices increasing by $5/mt over the past week. “This move was made to stimulate the market,” a source noted.
Offers for ex-US HMS I/II (80:20) scrap in containers have moved up by $1/mt on average this week and are now at $347/mt CFR. There were deals closed at around $345-350/mt CFR, against $343-349/mt CFR last week. As a result, the actual price has increased by $1-2/mt. Taiwanese producers are reporting that ex-US scrap offers to Taiwan are limited.
Ex-Japan offers for H1/2 (50:50) scrap by bulk to Taiwan have been relatively stable over the past week, moving only from $356-362/mt CFR to $355-360/mt CFR. No deal in this range has been heard.
Since the import scrap segment is stable in Taiwan, domestic HMS I/II 80:20 scrap prices have also moved sideways at TWD 11,100/mt ($341/mt) delivered to mill, with the dollar-based prices down by $1/mt week on week.
$1 = TWD 32.50
