Taiwan’s import scrap prices have followed a soft sideways trend this week. While ex-US scrap prices have lost some slight strength, Japanese suppliers are once again out of the market. Taiwan has been hit by a typhoon this week and it has been raining heavily. Taiwan’s local rebar market has experienced another silent week. Major Taiwanese producer Feng Hsin has kept its domestic rebar prices unchanged this week at TWD 15,800/mt ($512/mt) ex-works, with the dollar-based price down by $3/mt taking the exchange rate into account.
Over the past week, the offer prices for ex-US HMS I/II (80:20) scrap in containers have remained relatively stable, changing from $300-302/mt CFR to $299-305/mt CFR. Additionally, actual deal prices have moved down by $2/mt on the lower end to $293-295/mt CFR.
Offers for Japanese H1/2 (50:50) scrap bulk cargoes have not returned this week following their absence in the past one. The most recent offer from Japan to Taiwan was heard two weeks ago at $315/mt CFR. Market sources said that the absence of offers from Japan is the result of the very slow scrap demand received from Taiwanese mills and due to the high local prices supported by the limited supply in Japan.
Feng Hsin has kept its scrap procurement prices stable this week at TWD 8,400/mt ($272/mt) delivered, down by $2/mt on US dollar basis.
$1 = TWD 30.84
