Feng Hsin lowers local scrap purchase price, import prices in Taiwan to go down as well

Tuesday, 20 August 2019 00:57:45 (GMT+3)   |   Istanbul,  Istanbul

The major long steel producer in Taiwan, Feng Hsin, has announced a NTD 200/mt ($6.4/mt) decrease for local scrap purchase price to NTD 8,200/mt ($261/mt) delivered, price will be effective this week. This was the first price cut since the beginning of the month.

As a result, most market participants expect import scrap prices decline this week. In mid-August ex-US containerized HMS I/II 80:20 scrap offers to Taiwan were at $285/mt CFR, while buyers insisted on $275/mt CFR.

Feng Hsin has also announced a NTD 200/mt cut of rebar selling price due to worsening of domestic demand due to the seasonal reason.

$1 = NTD 31.37

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