Import scrap prices in Taiwan have continued to rise over the past week as supply from the US has remained limited, while Japanese offers have also increased further and have been considered not workable.
In the current week, the highest price for ex-US HMS I/II 80:20 scrap in containers to Taiwan fixed in deals was at $460/mt CFR, against the range of $450-455/mt CFR recorded last week. Meanwhile, offers from Japanese sellers to Taiwan for H1/2 50:50 scrap by bulk have increased from the range of $490-500/mt CFR week on week to $500/mt CFR. The levels offered by Japanese sellers are considered to be “expensive” by buyers and not workable at the moment. Japanese suppliers have been focusing on domestic sales and higher-priced markets like Vietnam for now.
According to market sources, local demand for rebar in Taiwan is still on the good side this week as players see that scrap quotations are continuing to rise. Domestic rebar prices are standing at TWD 22,300/mt ($804/mt) ex-works, TWD 300/mt ($10.8/mt) higher than the previous levels observed last week.
$1 = TWD 27.73