Taiwan’s import scrap price unchanged, Japanese sellers return with offers

Taiwan’s import scrap market has remained relatively stable, and Japanese scrap suppliers have finally returned to the market with new offers. The major Taiwanese producer Feng Hsin has increased its domestic rebar prices by TWD 200/mt this week to TWD 18,500/mt ($588/mt) ex-works, with dollar-based prices increasing by $9/mt taking the exchange rate into account. “Demand in the local rebar market is stagnating once again as prices have hit their peak while import billet quotations are falling,” a source added. Chinese 5sp grade billet price has dropped by approximately $10/mt to $495/mt CFR Taiwan, sources report, adding that Russian suppliers have not returned to the market yet. According to market players, Taiwanese mills are in no rush to buy billets either as they would rather wait for price corrections first.

Offer prices for ex-US HMS I/II (80:20) scrap in containers to Taiwan are in the range of $363-365/mt CFR. Actual prices in ex-US deals have moved up by $1/mt on the lower end week on week to $362/mt CFR. As SteelOrbis reported earlier this week, prices for containerized scrap remained unchanged in the USWC this week, with the price of HMS I/II 80:20 in LA at $352/mt FAS Long Beach port. No contact was able to confirm a single deal at the higher end of $355/mt FAS Long Beach port heard last week. Shredded scrap is reported at $370-380/mt FAS port, while #1 busheling is at $375-380/mt FAS port.

Japanese suppliers have returned to the market this week after four weeks of absence. Bulk H1/2 (50:50) scrap offers from Japan to Taiwan are at $397/mt CFR. Shredded scrap offers are in the range of $406-410/mt CFR, while shindachi scrap offers are at $420/mt CFR.

Feng Hsin has raised its scrap procurement prices by TWD 200/mt over the past week to TWD 10,900/mt ($346/mt) delivered, up by $7/mt on a US dollar basis. The reason for the price increase for local scrap is to minimize the price gap between domestic and import markets.

$1= TWD 31.48