Import scrap prices in Taiwan continue to move up this week. However, market players state that since it is already the end of the month, Taiwanese mills have no appetite to buy scrap and this attitude may end the uptrend of prices. Domestic rebar sales are once again very slow in Taiwan. According to a source, “Most rebar trading was done last week before prices moved up”. Feng Hsin increased its local rebar prices week on week to TWD 19,100/mt ($601/mt) ex-works, up by TWD 200/mt or $9/mt.
Over the past week, offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan were at $375-380/mt CFR this week, continuing their uptrend from $370-380/mt CFR recorded last week. The highest deal done was at $370-372/mt CFR, indicating a $5/mt increase.
At the same time, Japanese scrap suppliers kept their offers for H1/2 (50:50) scrap by bulk to Taiwan at $380-390/mt CFR, stable week on week. Market players believe that the lower end of the offer price can be accepted by Taiwanese mills, and deals can be closed at around $380s/mt CFR.
Domestic HMS I/II 80:20 scrap prices in Taiwan moved up by TWD 200/mt week on week to TWD 11,900/mt ($374/mt) delivered to mill. Due to the appreciation of the Taiwanese dollar, dollar-based prices increased by $8/mt.
$1= TWD 31.79