As Taiwan’s rebar market has recovered and experienced a lively week, while import scrap prices have also improved. Market players report that approximately 100,000 mt of rebar have been sold this week, and this is expected to cause a further increase in import scrap prices in the coming week. In addition to the livelier trading activity in Taiwan’s rebar market, international scrap prices are also supporting the ongoing price increases for import scrap. Local scrap prices in Taiwan are also expected to move up next week. Major Taiwanese producer Feng Hsin has kept its rebar prices stable week on week at TWD 18,800/mt ($593/mt) ex-works, recovering by $1/mt on dollar basis amid exchange rate fluctuations.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have increased over the past week from $363-375/mt CFR to $368-377/mt CFR. Prices in actual deals also moved up, by $5-7/mt week on week to $365-372/mt CFR.
Japanese scrap suppliers are sharing offers for H1/2 (50:50) scrap by bulk to Taiwan at $370-385/mt CFR, while last week this range was at $370-380/mt CFR. A deal was closed by a major Taiwanese producer at $370/mt CFR for this grade, $5/mt higher than the price recorded last week.
Domestic HMS I/II 80:20 scrap prices in Taiwan have remained stable over the past week at TWD 11,600/mt ($366/mt) delivered to mill. Due to the appreciation of the Taiwanese dollar, prices have increased by $1/mt on dollar basis.
$1 = TWD 31.68
