Taiwan’s import scrap prices have softened further over the past week, though the local rebar market has seen some activity this week. Market player report that the reason for the accelerated trading was the price of some rebars, particularly those defined as #3. Some southern Taiwanese mills have increased their domestic rebar prices by TWD 200/mt week on week, while Feng Hsin has kept its local rebar prices at TWD 19,100/mt ($593/mt) ex-works, down by $1/mt amid exchange rate fluctuations. As of tomorrow, September 29, the three-day Mid-Autumn Festival holiday will start in Taiwan.
Over the past week, offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have moved down from the $375-380/mt CFR range to $370-375/mt CFR. The lowest price recorded in an actual deal was $368/mt CFR, $2/mt lower week on week.
Japanese scrap suppliers have started to share offers for H1/2 (50:50) scrap by bulk to Taiwan at $373-380/mt CFR, $4/mt lower on the upper end of the range recorded last week. Market players explain this decline by pointing to the weaker yen. A Taiwanese mill concluded a deal for this grade at $371/mt CFR, which is very similar to last week’s bids.
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved sideways over the past week at TWD 11,900/mt ($369/mt) delivered to mill. Due to the depreciation of the Taiwanese dollar, dollar-based prices have decreased by $1/mt.
$1 = TWD 32.21
