Domestic rebar sales in Taiwan have remained limited this week, while market confidence has diminished because of weakened scrap prices. As the Chinese market is fragile and import scrap prices are not firm, finished steel trading in Taiwan remains on the low side.
Ex-US HMS I/II (80:20) scrap in containers were bought at $375/mt CFR Taiwan earlier this week and declined to $370/mt CFR yesterday, July 6. The $370/mt CFR level is the same as the price recorded at the end of last week.
At the same time, Japanese scrap suppliers cut their offers for H1/2 (50:50) scrap by bulk to Taiwan from $385/mt CFR earlier this week to $380/mt CFR yesterday, June 6. Actual deals are slightly lower than the offer prices, SteelOrbis has learned. At the end of last week, this grade was priced in the range of $383-3990/mt CFR.
Domestic HMS I/II 80:20 scrap prices in Taiwan are now at TWD 11,500/mt ($367/mt) delivered to mill. The official domestic rebar prices in Taiwan are at TWD 18,900/mt ($603/mt) ex-works.
$1 = TWD 31.32