Taiwan’s import scrap market has continued to move down in the current week, but market players report that both US and Japanese sellers are taking a step back because they consider the current levels to be too low. While rebar trading in the country has improved a little due to the decreased prices, one Taiwanese producer said the improvement is insufficient. Also, Taiwan will start to experience electricity disruptions in the coming weeks when the hot summer weather fully arrives. “The production rates will drop below the usual tonnages when summer comes,” the Taiwanese source added. This may support finished steel prices in the country as supply will eventually decline.
This week, deals for ex-US HMS I/II 80:20 scrap in containers to Taiwan were at $355-360/mt CFR, $5-10/mt lower than the offers recorded last week at $365/mt CFR.
The lowest offer levels for Japanese H1/2 50:50 scrap by bulk to Taiwan are now at $375-380/mt CFR, compared to $380/mt CFR last week.
Domestic HMS I/II 80:20 scrap prices in Taiwan have decreased by TWD 300/mt or $9/mt over the past two weeks to TWD 11,500/mt ($375/mt) delivered to mill. The official domestic rebar prices in Taiwan are now at TWD 18,800/mt ($613/mt) ex-works.
$1 = TWD 30.66