Import scrap offers to Taiwan have increased over the past week, though it is observed that actual deal prices have remained stable week on week. SteelOrbis reported that there were some domestic rebar sales in southern Taiwan last week where producers’ rebar prices were lower than in the rest of the country, and so other domestic long steel producers have followed suit and offered special discounts to accelerate their rebar sales. This week, the domestic rebar market in Taiwan is once again silent, according to market players. Feng Hsin kept its local rebar prices stable week on week in the local currency at TWD 19,100/mt ($599/mt) ex-works, up by $3/mt on US dollar basis amid exchange rate fluctuations.
Over the past week, offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have remained stable at $375-380/mt CFR. Once again, deal prices have been at around $370/mt CFR, unchanged week on week.
Following the Kanto tender which indicated a small price increase, Japanese scrap suppliers started to share offers for H1/2 (50:50) scrap by bulk to Taiwan at $380-390/mt CFR, up from $375-388/mt CFR recorded last week. A deal was done by a major Taiwanese steelmaker this week at $374/mt CFR for this grade, $1/mt lower than the booking done last week.
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved sideways over the past week at TWD 11,900/mt ($373/mt) delivered to mill. Due to the appreciation of the Taiwanese dollar, US dollar-based prices have increased by $2/mt.
$1 = TWD 31.90