Over the past week, Taiwan’s import scrap price has remained stable. This week Taiwanese producers’ rebar sales were also muted. Sales done three weeks ago are not consumed fully and creates a sluggish market. Market sources report that steel market is waiting to digest the current stocks while consumption is on the low side. The major Taiwanese producer Feng Hsin has kept its domestic rebar prices stable over the past week at TWD 17,900/mt ($542/mt) ex-works, dollar-based quotations have moved down by $1/mt, including the exchange rate effect.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have remained stable this week, in the range of $318-323/mt CFR. Actual deal prices have indicated a very small decline on the upper end by $1/mt to $317/mt CFR.
Offers shared for Japanese H1/2 (50:50) scrap bulk have disappeared once again this week. Market sources reported that only a shredded bulk cargo was bought at $347/mt CFR. Offers for H1/2 (50:50) scrap were in the range of $327-342/mt CFR last week with deals $325/mt CFR.
As import scrap quotations in Taiwan remained stable over the past week, Feng Hsin has kept its scrap procurement prices unchanged at TWD 10,100/mt ($306/mt) delivered.
$1= TWD 33.01
