Taiwan’s import scrap prices have decreased further during the past week, while producers report good scrap flow in their domestic market. “The decreasing trend of the import scrap market is expected to slow down in the current week,” a Taiwanese mill stated.
Offers for ex-US HMS I/II 80:20 scrap in containers in Taiwan decreased from $565-570/mt CFR to $555-560/mt CFR, and market players report that the lowest level in deals was $555/mt CFR. A Taiwanese mill stated that tonnages bought at this level were very low.
Japanese H1/2 50:50 scrap by bulk has been offered to Taiwan at $585-590/mt as compared to $595-600/mt CFR recorded last week. “Prices decreased roughly by $10/mt, but there are not many purchases from either segment. Local scrap flow is very strong right now,” a source commented.
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved sideways at TWD 14,800/mt ($506/mt) ex-works, down $6/mt on dollar basis week on week. According to an official at a Taiwanese mill, “Domestic scrap suppliers are rushing to offer to the mills as they are afraid that scrap prices will fall further.” In the same period, official domestic rebar prices in Taiwan have remained stable at TWD 24,500/mt ($838/mt) ex-works, while due to the depreciation of the local currency dollar-based prices have decreased by $9/mt week on week. “Local demand for rebar is at a standstill amid the negative international outlook and buyers’ expectations of a decline in quotations,” one market player commented.
$1 = TWD 29.24