Taiwan’s domestic rebar market is once again silent following the previous sales going on for weeks. Due to the previous sales, as anticipated by SteelOrbis, major Taiwanese producer Feng Hsin has increased its rebar prices by TWD 300/mt week on week to TWD 19,400/mt ($620/mt) ex-works, prices moved up by $12/mt on dollar-basis amid exchange rate fluctuations. Market sources believe that import scrap quotations in Taiwan may remain stable since Turkey has stopped buying scrap at higher levels.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have increased over the past week from $378-393/mt CFR to $380-393/mt CFR. Prices fixed in actual deals also moved up from $377-378/mt CFR to $377-380/mt CFR.
Japanese scrap suppliers are sharing offers for H1/2 (50:50) scrap by bulk to Taiwan at $393-405/mt CFR, last week this range was $390-395/mt CFR. No deals were heard this week from the new offer prices. Market sources report that the fluctuation of the Japanese yen-US dollar exchange rate is influential on Japan’s scrap offers to Taiwan. According to a source, “Japan is offering lower quantities with higher prices.”
Domestic HMS I/II 80:20 scrap prices in Taiwan have moved up by TWD 300/mt over the past week to TWD 12,100/mt ($387/mt) delivered to mill, moving up by $11/mt. The rise in local Taiwanese scrap market is the result of the movement observed in the international scrap market recently.
$1= TWD 31.25