Taiwan’s import scrap market has remained relatively stable over the past week. Despite the narrowing range of offers, actual deal prices have remained unchanged. The stable trend of the import scrap segment has caused the domestic scrap market to move sideways also. Following last week’s accelerated demand for domestic rebar, this week has been “mute in terms of trading”, market sources told SteelOrbis. The leading Taiwanese steel producer Feng Hsin has raised its domestic rebar prices by TWD 200/mt over the past week to TWD 17,600/mt ($537/mt) ex-works, with its dollar-based quotations moving up by $6/mt, taking into account exchange rate changes.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have mostly remained at $315/mt CFR, with the wide price range disappearing this week. There have been deals closed at $310/mt this week, with actual prices moving sideways.
Offers shared for Japanese H1/2 (50:50) scrap bulk have also remained relatively stable, losing just $2/mt on the upper end, and are now in the range of $320-325/mt CFR. Taiwanese mills have still closed deals for ex-Japan scrap at $320/mt CFR, unchanged week on week.
Feng Hsin has kept its scrap procurement prices stable at TWD 9,800/mt ($299/mt) delivered, stable on dollar basis.
$1 = TWD 32.77
