Taiwan’s import scrap market has remained silent in terms of trading and stable in terms of prices over the holiday week. With New Year’s Day being in mid-week, Taiwan’s domestic rebar market was also sluggish in terms of trading. “Nothing really moved and there were no import prices for reference,” a source at a leading Taiwanese mill commented. The major Taiwanese steel producer Feng Hsin has kept its domestic rebar prices unchanged at TWD 17,400/mt ($529/mt) ex-works, with its dollar-based price decreasing by $1/mt week on week, taking exchange rate changes into account.
US-based suppliers of HMS I/II (80:20) scrap in containers to Taiwan are still out of the market, considering Taiwanese buyers’ prices to be on the low side. The long New Year holiday continues in the US and no actual price has been recorded for this grade in Taiwan.
Offers shared for Japanese H1/2 (50:50) scrap bulk have also disappeared this week due to the holiday. The only deal done by a Taiwanese producer for this grade in the current week was closed at slightly below $310/mt CFR, indicating no change as compared to last week.
Feng Hsin has kept its scrap purchase price stable at TWD 9,200/mt ($279/mt) delivered, down by $1/mt on US dollar basis amid the changes observed in the exchange rate.
$1 = TWD 32.92