Taiwanese producers are willing to accept slight increases in deep sea scrap prices, following the trend of international scrap prices. Market sources report that the domestic rebar market in Taiwan is livelier since both billet and scrap prices are moving up. “This week, rebar sales were concluded in some quantities. We sense that raw material prices are rising,” a source commented this week. Producers in southern Taiwan have kept their domestic rebar prices unchanged over the past week and concluded sales at TWD 16,700-16,800/mt ($511-514/mt) ex-works, up $4/mt. The leading Taiwanese producer Feng Hsin has kept its domestic rebar prices stable week on week at TWD 17,100/mt ($523/mt) ex-works, while its dollar-based prices have increased by $4/mt taking into account exchange rate changes. Taiwan will be on holiday from January 25 to February 2.
Over the past week, offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have moved up by $3-5/mt to $295-297/mt CFR. There have been a limited number of deals at $295-297/mt CFR, increasing by $2-4/mt. Meanwhile, SteelOrbis hears that US-based sellers are seeking $300/mt CFR from Taiwanese buyers, against $295/mt recorded last week. But for now the Taiwanese mills are resisting.
Offers shared for Japanese H1/2 (50:50) scrap bulk have also increased, by $9/mt on the lower end and by $2/mt on the upper end to $310-315/mt CFR. Taiwanese steel producers have signed deals for this grade in the range of $308-309/mt CFR, higher than last week’s acceptable price at $305/mt CFR.
Feng Hsin has kept its scrap purchase prices stable at TWD 9,200/mt ($281/mt) delivered, up $2/mt on dollar-basis. Market sources report that the producer has kept its prices unchanged because there was a limited rise in deep sea scrap prices.
$1 = TWD 32.70