SteelOrbis has been informed that some electric arc furnaces (EAF) in Taiwan have reduced their purchase prices for bonus grade scrap by NTD 200/mt to NTD 10,800-11,000/mt ($350-357/mt) delivered to customer due to insufficient rebar demand. Market sources state that some Taiwanese traders are considering the possibility to conclude rebar sales to the US, where Turkey has left the market after the US’ decision to double steel tariffs on Turkish imports to fifty percent.
On the other hand, ex-US containerized HMS I/II 80:20 scrap offers to Taiwan are currently at $330-332/mt CFR CY, for September shipment.
$1 = NTD 30.85