Due to the category 4 Typhoon Koinu which has hit Taiwan this week, air and maritime traffic as well as trading in Taiwan has been suspended. The Taiwanese domestic rebar market has been silent due to the impact of the typhoon. Feng Hsin has kept its local rebar prices at TWD 19,100/mt ($594/mt) ex-works, up by $1/mt on US dollar basis amid exchange rate fluctuations.
Over the past week, offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have remained unchanged at $370-375/mt CFR. The lowest price recorded in an actual deal was $368/mt CFR, stable week on week.
Japanese scrap suppliers are still sharing offers for H1/2 (50:50) scrap by bulk to Taiwan at $373-380/mt CFR. A major Taiwanese mill concluded a deal for this grade at $370/mt CFR, $1/mt lower week on week.
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved sideways over the past week at TWD 11,900/mt ($370/mt) delivered to mill. Due to the appreciation of the Taiwanese dollar, US dollar-based prices have increased by $1/mt.
$1 = TWD 32.12