Import scrap offers to Taiwan have softened over the past week. Market players report that the Taiwanese rebar market has been sluggish this week. A source at a major Taiwanese mill commented that this sluggishness is the result of the softer Japanese yen and weak import scrap offers. In the current week, major Taiwanese producer Feng Hsin has kept its rebar prices at TWD 19,100/mt ($586/mt) ex-works.
Offers for ex-US HMS I/II (80:20) scrap in containers have remained limited in Taiwan, with offer prices standing at $360-365/mt CFR, moving down from $368-372/mt last week. There have been deals closed at around $358/mt CFR, also decreasing by $2/mt.
Ex-Japan offers for H1/2 (50:50) scrap by bulk to Taiwan have moved down from $368-372/mt CFR recorded late last week to $366-372/mt CFR. No new deals have been heard for Japanese scrap this week. A source commented, “Taiwanese mills have no deals this week because it is the end of the month and their needs have been met.”
Domestic HMS I/II 80:20 scrap prices in Taiwan have remained stable at TWD 11,700/mt ($359/mt) delivered to mill. Due to the depreciation of the Taiwanese dollar against the US dollar, a $1/mt decline was recorded on US dollar basis.
$1 = TWD 32.60