Import scrap offers to Taiwan have decreased slightly over the past week. During the week, Taiwan’s rebar market resumed its silence. Market player report that the reason for the silence was the sales done two weeks ago. A source at a major Taiwanese mill said, “Rebar demand is currently sluggish.” Feng Hsin has kept its local rebar prices stable week on week in the local currency at TWD 19,100/mt ($594/mt) ex-works, down by $5/mt on US dollar basis amid exchange rate fluctuations.
Over the past week, offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have remained stable at $375-380/mt CFR. Once again, deal prices have been at around $370/mt CFR, unchanged week on week.
Japanese scrap suppliers have started to share offers for H1/2 (50:50) scrap in bulk to Taiwan at $373-384/mt CFR, slightly lower than $380-390/mt CFR recorded last week. The workable levels for this grade are considered to be at around $370/mt CFR, $4/mt lower than the actual deals done last week. A source at a major Taiwanese mill stated, “Japanese scrap would be priced similar to ex-US material.”
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved sideways over the past week at TWD 11,900/mt ($370/mt) delivered to mill. Due to the depreciation of the Taiwanese dollar, dollar-based prices have decreased by $3/mt.
$1 = TWD 32.14
