Having made a positive start after the holidays, Taiwan’s import scrap market has continued to move upwards this week. Offers from both the US and Japan have increased week on week, and the appetite of Taiwanese producers is livelier. Market sources report that the increases recorded both in import and domestic scrap prices have caused Taiwanese rebar market to accelerate trading this week. The major Taiwanese producer Feng Hsin has kept its domestic rebar prices unchanged over the past week at TWD 17,400/mt ($531/mt) ex-works, dollar-based quotations have also moved sideways, due to exchange rate effects.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have moved up by $9-15/mt to $314-325/mt CFR over the past week. Market sources report that the most heard number from the sellers was $315/mt CFR. There are deals closed at $310/mt this week, rising from the $304-305/mt CFR recorded last week.
Offers shared for Japanese H1/2 (50:50) scrap bulk have also increased by $4/mt in this period to $320-327/mt CFR. SteelOrbis hears that there are ex-Japan deals closed at $320/mt CFR Taiwan, though the numbers of transactions remained limited.
Feng Hsin has raised its scrap procurement prices by TWD 300/mt to TWD 9,800/mt ($299/mt) delivered, up $9/mt on dollar-basis. Market sources report that the ongoing uptrend of the import scrap prices has led the producer to increase its domestic scrap quotations.
$1= TWD 32.74