Amid the downtrend observed in the international scrap market lately, Taiwan’s import scrap market has also been impacted. Deep sea and short sea scrap quotations to Taiwan have once again moved down this week, while market players report demand for rebar is on the low side, even though major producer Feng Hsin has reduced its local rebar prices by TWD 400/mt or $13/mt week on week to TWD 18,500/mt ($571/mt) ex-works. It is heard that another TWD 100 discount on shipping is possible for purchases of rebar from Feng Hsin.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have continued their downtrend from $360-365/mt CFR to $359/mt CFR. The lowest price recorded in an actual deal was $350/mt CFR, indicating a $10/mt fall in actual prices.
Japanese scrap suppliers are sharing offers for H1/2 (50:50) scrap by bulk to Taiwan at $365-370/mt CFR, while last week this range was at $367-373/mt CFR.
Domestic HMS I/II 80:20 scrap prices in Taiwan have declined over the past week by TWD 200/mt or $6/mt to TWD 11,300/mt ($349/mt) delivered to mill.
$1 = TWD 32.42