During the past week, Taiwanese buyers’ import scrap prices have decreased both on the US and Japanese segments. Some intermediaries believe that prices have reached the peak, hence are now softening.
In the current week, the prices fixed in deals for ex-US HMS I/II 80:20 scrap in containers to Taiwan were at $480/mt CFR, down by $5/mt against the $485/mt CFR recorded last week. Current ex-US scrap offers are at $485/mt CFR. Market players state that the vessel traffic in the US West Coast is still problematic, container shortage is preventing US to provide enough cargoes for Taiwan.
Meanwhile, bookings from Japan to Taiwan for H1/2 50:50 scrap by bulk have been closed at $535/mt CFR, which is significantly lower than the offers observed last week at $550-555/mt CFR. “Japanese scrap offers have decreased sharply this week from $555/mt to $540/mt CFR,” a source reported, adding “This $535/mt deal level is also high but there is no enough cargoes from the US, so people had to accept Japanese offer.”
SteelOrbis has learned that domestic HMS I/II 80:20 scrap in Taiwan is still at TWD 12,400/mt ($446/mt), stable week on week. Over the past week, domestic rebar quotations in Taiwan have moved sideways at TWD 22,800/mt ($820/mt) ex-works. Sentiment in the local rebar market in Taiwan is pessimistic amid the lower import scrap quotations, “now players believe there can be a reduction in the local market, hence demand is not that good,” a player stated.
$1 = TWD 27.81