Due to the strong typhoon hitting Taiwan as of Wednesday, there were only two days of trading in the local market this week. During the week, major Taiwanese producer Feng Hsin has kept its domestic rebar prices unchanged at TWD 18,700/mt ($570/mt) ex-works, with its dollar-based price remaining unchanged.
Offers for ex-US HMS I/II (80:20) scrap in containers have moved up from $347-352/mt CFR to $350-355/mt CFR. Since the increase in offer prices has been very small, market players consider ex-US offers to be stable. There have been deals closed at around $347-348/mt CFR this week, with a $1-2/mt rise seen in actual prices. Taiwanese producers report that the number of ex-US scrap offers to Taiwan is still very limited.
Ex-Japan offers for H1/2 (50:50) scrap by bulk to Taiwan have moved down slightly on the upper end by $2/mt over the past week, to $360-363/mt CFR. The change in offer prices is explained by the stronger Japanese yen against the US dollar. Taiwan did not conclude any ex-Japan scrap deal this week.
Since the import scrap segment is once again considered stable by Taiwanese players, domestic HMS I/II 80:20 scrap prices have also moved sideways at TWD 11,100/mt ($338/mt) delivered to mill, while dollar-based prices have moved sideways week on week.
$1 = TWD 32.79
