The Taiwanese rebar market has been silent over the past week, as players have reacted to the decreasing trend of the international scrap market by cutting their rebar prices. Although, major producer Feng Hsin has kept its local rebar prices stable week on week at TWD 18,900/mt ($584/mt) ex-works, it is expected to revise them on Monday, October 23. Meanwhile, domestic rebar quotations have lost $2/mt week on week due to the depreciation of the Taiwanese dollar against the US dollar.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have continued their downtrend from $367-375/mt CFR to $360-365/mt CFR. The lowest price recorded in an actual deal was $360/mt CFR, indicating a $5/mt fall in actual prices.
Japanese scrap suppliers are sharing offers for H1/2 (50:50) scrap by bulk to Taiwan at $367-373/mt CFR, while last week the price range was at $373-375/mt CFR. A major Taiwanese mill concluded a deal for this grade at $365/mt CFR, $5/mt lower than last week.
Domestic HMS I/II 80:20 scrap prices in Taiwan have declined over the past week by TWD 200/mt or $8/mt to TWD 11,500/mt ($355/mt) delivered to mill. The decreasing trend of international scrap quotations has contributed to this trend.
$1 = TWD 32.35