Taiwan’s import scrap prices have softened further this week. Market sources report that local rebar sales have remained on the low side, with just limited sales done. The main Taiwanese producer Feng Hsin has kept its domestic rebar prices stable over the past week at TWD 17,200/mt ($529/mt) ex-works, with its dollar-based price up by $2/mt taking the exchange rate into account. However, market sources report that buyers are asking for lower prices and that workable deal levels have been at TWD 16,600-17,000/mt ($510-523/mt) ex-works.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have moved down from the range of $300-308/mt CFR to $295-303/mt. Actual deal prices have also moved down, by $3-10/mt to $290-297/mt CFR. Some unconfirmed rumors indicate deals done at around $287/mt CFR.
Once again, there were no offers shared for Japanese H1/2 (50:50) bulk scrap. Market sources explain this by pointing to the stronger Japanese yen and higher bids from other buyers for Japanese scrap.
Feng Hsin has kept its scrap procurement price stable week on week at TWD 9,400/mt ($289/mt) delivered, up by $1/mt on US dollar basis. The producer had already cut its price by TWD 500/mt or $18/mt last week.
$1 = TWD 32.51